Global cues, bargain hunting lift equity markets

Positive global cues, along with bargain hunting and a strengthened rupee, lifted the Indian equity markets on Monday.

Besides, recovery in crude oil prices and latest reforms measures for the banking sector, too, buoyed investors' sentiments.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 15.90 points or 0.18 per cent to close provisionally at 8,708.95 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,156.59 points, provisionally closed at 28,179.08 points (at 3.30 p.m.) -- up 101.90 points or 0.36 per cent from the previous close at 28,077.18 points.

The Sensex touched a high of 28,256.65 points and a low of 28,075.95 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,684 advances and 1,165 declines.

On last Friday, the equity markets closed on a flat-to-negative note as profit booking, along with outflow of foreign funds and broadly lower global indices, subdued investors' sentiments.

The barometer index fell by 52.66 points, or 0.19 per cent to 28,077.18 points, while the NSE Nifty slipped by 6.35 points or 0.07 per cent to 8,693.05 points.

--IANS

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