Indian equities surge on macro-data, healthy auto results

Positive domestic macro-economic data, coupled with firm global cues and upbeat quarterly automobile results lifted the Indian equities markets on Wednesday.

India's gross domestic product (GDP) for the third quarter of 2016-17 Fiscal ended December, which recorded a growth of seven per cent, and expansion in the manufacturing Purchasing Managers' Index (PMI) to 50.7 in February, kept investors' sentiments buoyed.

The key indices provisionally closed with gains of more than half a per cent each, as healthy buying was witnessed in stocks of metal, banking and healthcare stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 66.20 points or 0.75 per cent to 8,945.80 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,849.04 points, provisionally closed at 28,984.49 points (at 3.30 p.m.) -- up 241.17 points or 0.84 per cent from the previous close at 28,743.32 points.

The Sensex touched a high of 29,029.17 points and a low of 28,824.17 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,628 advances and 1,216 declines.

On Tuesday, the benchmark indices ended lower as caution ahead of the release of major domestic macro-economic data points, along with heavy selling pressure capped gains.

The NSE Nifty edged down by 17.10 points or 0.19 per cent to close at 8,879.60 points, and the BSE Sensex fell by 69.56 points or 0.24 per cent to 28,743.32 points.

--IANS

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