Positive global cues buoy equity markets

Mumbai, May 17 (IANS) Positive Asian indices, along with higher crude oil prices, buoyed the Indian equity markets on Tuesday.

Consequently, the key indices of the Indian equity markets made gains during the early morning trade session, as healthy buying was witnessed in oil and gas, banks and capital goods stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged higher by 46.15 points or 0.59 percent, at 7,906.90 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,756.14 points, traded at 25,814.44 points (at 9.30 a.m.) — up 161.21 points or 0.63 percent from the previous close at 25,653.23 points.

The Sensex has so far touched a high of 25,830.06 points and a low of 25,741.19 points during the intra-day trade.

In contrast, the BSE market breadth was skewed in favour of the bulls — with 1,020 advances and 309 declines.

Both the key Indian indices had ended on a higher note during the previous trade session on Monday, as value buying and expectations of further economic reforms lifted prices.

The barometer index had gained 163.66 points or 0.64 percent, while the NSE Nifty had risen by 45.89 points or 0.59 percent.

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