Macro-data, value buying buoys markets; Sensex up 112 points

Mumbai, Dec 14 (IANS) Healthy macro-economic data, coupled with value buying propelled a barometer index of the Indian equity markets to gain 112 points during the mid-afternoon trade session on Monday.

Initially, both the bellwether indices of the Indian equity markets opened on a negative note in-sync with their Asian peers and concerns on the parliamentary logjam that has hindered the passage of key economic legislations.

However, both the indices soon rose on the back of value buying which was triggered after two-consecutive weeks of losses.

The Indian benchmark indices were close to their 52-weeks low during the week ended December 11. Till date in December broad-based key indices have lost close to 4-4.5 percent.

Furthermore, healthy figures for the index of industrial production (IIP) which were release after market hours on last Friday restored investors’ confidence.

In addition, expectations of healthy domestic retail inflation data, similar too that of the wholesale price index (WPI) figures cheered investors.

Besides macro-data, hopes of a dovish outcome of the upcoming US Federal Reserves’ FOMC (Federal Open Market Committee) meet slated on Wednesday, too, buoyed the markets.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) gained by 112 points or 0.45 percent during the mid-afternoon trade session.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading in the green. It was higher by 42 points or 0.55 percent at 7,652.25 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 24,935.60 points, was trading at 25,156 points — up 111.57 points or 0.45 percent from the previous day’s close at 25,044.43 points.

The Sensex has so far touched a high of 25,169.37 points and a low of 24,867.73 points during the intra-day trade.

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