Short covering lifts Indian equities

Indian equity markets were on Thursday lifted by short covering, coupled with a marginally strong rupee and healthy buying in automobile, oil and gas, and capital goods stocks.

The key indices provisionally closed with gains of more than half a per cent each and broke the streak of three consecutive sessions of losses.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 55.85 points or 0.62 per cent to 9,086.30 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,201.01 points, provisionally closed at 29,332.16 points (at 3.30 p.m.) -- up 164.48 points or 0.56 per cent from the previous close at 29,167.68 points.

The Sensex touched a high of 29,373.79 points and a low of 29,198.08 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,694 advances and 1,077 declines.

On Wednesday, the benchmark indices were dented on the back of negative global cues, coupled with a weak rupee and heavy selling pressure.

--IANS

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