Strong rupee, budgetary expectations lift equities

Rupee appreciation, coupled with hopes of positive incentives in the upcoming Union Budget and broadly positive Asian indices, lifted the Indian equities markets on Monday.

The key indices provisionally closed in the positive territory, as healthy buying was witnessed in metal, automobile and oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 42.15 points or 0.50 per cent, to 8,391.50 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,990.93 points, provisionally closed at 27,117.34 points (at 3.30 p.m.) -- up 82.84 points or 0.31 per cent from the previous close at 27,034.50 points.

The Sensex touched a high of 27,167.79 points and a low of 26,963.58 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,613 advances and 1,130 declines.

On last Friday, the benchmark indices were dragged lower by negative global cues, disappointing quarterly results and a weak rupee.

The NSE Nifty receded by 85.75 points or 1.02 per cent, to 8,349.35 points, while the BSE Sensex was down 274.10 points or 1.00 per cent.

--IANS

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