Easing geo-political tensions, healthy buying lift equities

Despite broadly negative global cues, the key Indian equity indices provisionally closed on a higher note on Monday as easing geo-political tensions between China and India, coupled with healthy buying in capital goods, consumer durables and IT stocks, lifted the sentiments of investors.

According to market observers, a strong rupee and intense buying activities observed in index heavyweights like Infosys, Hero MotoCorp, Sun Pharma, Hindustan Unilever and Adani Ports, too, added to the upward trajectory of the key indices.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 55.75 points or 0.57 per cent to provisionally close at 9,912.80 points (at 3.30 p.m.).

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,756.87 points, closed at 31,750.82 points -- up 154.76 points or 0.49 per cent from Thursday's close at 31,596.06 points.

The Sensex touched a high of 31,809.70 points and a low of 31,701.67 points during the intra-day trade.

The BSE market breadth was bullish with 1,602 advances and 954 declines.

On Thursday, the benchmark indices closed on a flat-to-positive note on the back of short covering in healthcare stocks and positive European markets.

The Nifty closed fractionally higher by 4.55 points or 0.05 per cent at 9,857.05 points, while the Sensex closed at 31,596.06 points -- up 28.05 points or 0.09 per cent.

The Indian equity markets were closed on Friday on account of Ganesh Chaturthi.

--IANS

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