Sensex trades 89 points up; healthcare stocks rise

A day after it gained over 150 points, a benchmark index of the Indian equity markets was trading in the green during the late-afternoon session on Thursday.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) was trading 89 points up during the session under review.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the green. It was up 35.95 points or 0.42 percent at 8,603.90 points.

The S&P BSE Sensex, which opened at 28,291.88 points, was trading at 28,311.92 points (2.15 p.m.), up 89 points or 0.31 percent from the previous day's close at 28,223.08 points.

The Sensex so far touched a high of 28,327.40 points and a low of 28,163.69 points in the intra-day trade.

According to analysts, Indian markets opened positively tracking the SGX Nifty and Wednesday's data which showed healthy growth in services PMI (purchasing managers' index). Sentiment was also helped by upbeat economic data from China.

Markets gained on the back of positive commentary by the Reserve Bank of India (RBI) governor's comments on the economy. Euphoria surrounding Cognizant's

quarterly results supported rally across information technology (IT) stocks.

"The markets are moving up slowly as majority of large cap companies have already come out with their quarterly numbers. Investors are awaiting the few that are left like Mahindra to come out with its quarterly numbers. There is a positive expectation of good results," Alex Mathews, head research, Geojit BNP Paribas Financial Services told IANS.

"Cues from European and Chinese markets are positive. Crude oil prices are also supporting the markets. Foreign investors are net-buyers in both cash and the futures segments."

Sector-wise, healthy buying was observed in healthcare, capital goods and consumer durables stocks. However, fast moving consumer goods (FMCG), IT and metal sectors came under selling pressure.

The S&P BSE healthcare index increased by 253.34 points, followed by capital goods index which gained by 242.56 points and consumer durables index was higher by 148.43 points.

The S&P BSE FMCG index receded by 90.65 points, IT index fell by 19.73 points and the metal index was lower by 18.71 points.