Equity markets rise on global cues, macro-data

Shrugging off the previous day's losses, the Indian equity markets on Tuesday traded in the green on the back of firm global cues, broadly positive domestic macro-economic data and healthy buying in capital goods, banking and consumer durables stocks.

According to the data released by the Central Statistics Office (CSO) after market hours on Monday, India's annual retail inflation (Consumer Price Index) eased to a record low of 2.18 per cent in May, and the factory output growth (Index of Industrial Production) marginally slowed to 3.1 per cent in April.

This, according to market analysts, provided a boost to the key equity indices.

Around 12.45 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 22.85 points or 0.24 per cent to 9,639.25 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,091.10 points, traded at 31,198.83 points -- up 103.13 points or 0.33 per cent from its previous close at 31,095.70 points.

The Sensex has so far touched a high of 31,219.78 points and a low of 31,075.80 points during intra-day trade.

The BSE market breadth was bullish -- with 1,474 advances and 974 declines.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the equity benchmarks, which opened on a flat note, gained on the back of positive Asian markets.

"Retail inflation data came lower than expected and is positive for the market. Mid-cap and small-cap -- both the indices traded up," Desai added.

On Monday, the benchmark indices closed on a lower note as caution ahead of major domestic macro-data release, coupled with weak global cues, subdued investors' sentiments.

The Nifty fell by 51.85 points or 0.54 per cent to close at 9,616.40 points, while the Sensex closed at 31,095.70 points -- down 166.36 points or 0.53 per cent.

--IANS

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