Equities soar on healthy domestic cues, Nifty touches new high

Positive domestic cues, coupled with a strong rupee and healthy buying in capital goods and consumer durables sectors, gave a fillip to the Indian equity markets during the mid-afternoon trade session on Monday.

The NSE Nifty made a record high opening and touched a fresh 52-week high. It opened at 9,220.60 points and touched a new high of 9,220.65 points during the intra-day trade.

Healthy macro-economic data -- the Nikkei India Manufacturing Purchasing Managers' Index (PMI) -- which showed that India's manufacturing activity rose to 52.5 in March from 50.7 in February -- aided the upward trajectory of the key Indian indices.

Besides, investors' sentiments were buoyed by the passage of the Goods and Services Tax Bill 2017 -- a major tax reform -- and Finance Minister Arun Jaitley's pegging India's GDP growth at 7.7 per cent in 2018.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 41.75 points or 0.46 per cent to 9,215.50 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,737.73 points, traded at 29,828.59 points (at 1.00 p.m.) -- up 208.09 points or 0.70 per cent from the previous close at 29,620.50 points.

The Sensex has so far touched a high of 29,843.86 points and a low of 29,705.72 points during the intra-day trade.

The BSE market breadth was bullish -- with 1,897 advances and 754 declines.

On Friday, the benchmark indices closed on a flat note as negative global cues hampered investors' sentiments.

The NSE Nifty closed flat -- unchanged at 9,173.75 points, while the BSE Sensex closed at 29,620.50 points -- down 26.92 points or 0.09 per cent.

--IANS

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