GST expectations buoy equity markets

GST expectations buoy equity markets

Mumbai, July 26 (IANS) Expectations of a major economic legislation getting parliament’s approval buoyed the Indian equity markets on Tuesday.

However, negative Asian cues, combined with upcoming global event risks capped gains and led the key indices to traded marginally in the green during the morning session.

Healthy buying was witnessed in oil and gas, metal and consumer durables stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 5.35 points or 0.06 per cent to 8,641 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,121.37 points, traded at 28,126.20 points (at 9.30 a.m.) — up 30.86 points or 0.11 per cent from the previous close at 28,095.34 points.

The Sensex has so far touched a high of 28,141.49 points and a low of 28,063.95 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls — with 1,081 advances and 464 declines.

Both the key Indian indices had ended on a higher note during the previous trade session on Monday, due to short covering, expectations of key reforms and healthy inflow of foreign funds.

The equity markets also touched their new closing highs in almost a year.

On a closing basis, the NSE Nifty had touched a new 52-week high, whereas the BSE Sensex reached its highest closing levels in 11 months.

The barometer index had gained by 292.10 points or 1.05 per cent to 28,095.34 points, while the NSE Nifty edged up by 94.45 points or 1.11 per cent to 8,635.65 points.

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