Value buying buoys markets; Sensex up 215 points

Mumbai, Dec 21 (IANS) Value buying, coupled with clarity on the passage of several key economic legislations during the remaining three days of parliament’s winter session, saw Indian equity markets rise on Monday.

The barometer index of the Indian equity markets provisionally closed with gains of 215 points during the day’s trade.

Initially, both the bellwether indices of the Indian equity markets opened on a weak note in sync with their Asian peers and last Friday’s slump.

However, both the key indices soon rose on the back of value buying.

In addition, clarity on the status of key economic legislations’ passage during the winter session increased risk-taking appetite of investors.

Besides, Finance Minister Arun Jaitley’s comments last week that the GST (Goods and Services Tax) bill might get delayed due to parliament’s logjam has added clarity on the legislation’s status.

Nevertheless, investors have now hedged their hopes on the government getting three other critical bills approved by parliament including the bankruptcy code, legislations on setting up of commercial courts and amendments to the Arbitration and Conciliation Act.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed higher by 215 points during the day’s trade.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) also gained. It ended higher by 69 points or 0.89 percent up at 7,830.65 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 25,425.32 points, provisionally closed at 25,733.81 points (at 3.30 p.m.) — up 214.59 points or 0.84 percent from the previous day’s close at 25,519.22 points.

The Sensex touched a high of 25,757.84 points and a low of 25,413.54 points during the intra-day trade.

The Sensex had closed the previous session on December 18, down 284.56 points or 1.10 percent, while the Nifty was lower by 82.40 points or 1.50 percent.

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