Equity indices snap 7-day fall to trade with gains

After seven consecutive days of losses, key Indian equity indices on Thursday surged to trade on a higher note, with the barometer Sensex of the BSE rising over 400 points.

According to market observers, broadly positive Asian indices, coupled with healthy buying in banking, capital goods, healthcare and auto stocks, lifted the equity indices during the mid-afternoon session.

Around 1 p.m., the 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,208.11 points, traded at 34,538.91 points -- up 456.20 points or 1.34 per cent from its previous session's close.

The wider Nifty50 of the National Stock Exchange (NSE) edged higher by 132.40 points or 1.26 per cent to trade at 10,609.10 points.

Top gainers on the BSE were index heavyweights like Sun Pharma, Dr Reddy's Lab, Infosys, Axis Bank and HDFC.

"Benchmark Indian indices were in sync with Asian markets and traded in the green, with the Sensex over 400 points and Nifty over 100 -- trading above the crucial 10,600 mark," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

On Wednesday, the equity indices closed on a lower note as outflow of foreign funds and selling pressure in banking, capital goods and IT stocks suppressed investors' risk-taking appetite.

The Nifty50 closed lower by 21.55 points or 0.21 per cent at 10,476.70 points, while the Sensex closed at 34,082.71 points -- down 113.23 points or 0.33 per cent.

--IANS

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