Positive global cues cheer Indian equities, Sensex up 218 points

Stabilisation in Chinese exchanges and healthy economic growth in the US buoyed investor sentiment in the Indian equity markets and propelled a barometer index to gain 218 points during the mid-afternoon trade session on Friday.

The positive sentiments propelled the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) to gain 218.40 points or 0.83 percent.

Upbeat sentiments were also seen on the wider 50-scrip Nifty of the National Stock Exchange (NSE) which too made gains.

The CNX Nifty of the NSE rose 66.45 points or 0.84 percent at 8,015.40 points.

The S&P BSE Sensex which opened at 26,542.84 points, was trading at 26,449.59 points (1.30 p.m.)-- up 218.40 points or 0.83 percent from the previous day's close at 26,231.19 points.

The S&P BSE Sensex touched a high of 26,687.33 points and a low of 26,424.13 points in the intra-day trade so far.

Analysts point out that stabilisation of rupee value, positive cues eminating out of Chinese markets and strong growth data from the US cheered the markets.

"The rally from yesterday has been extended on the back of strong US GDP data, which was better-than-expected. This led to a strong closing in the US markets on Thursday," Anand James, co-head, technical research, Geojit BNP Paribas, told IANS.

"The Asian markets have also been on the positive side and this has provided relief and support to the Indian equities. Rupee is also stabilising," James added.