Value buying buoys equity markets
Mumbai, Aug 11 (IANS) Value buying and short covering aided the Indian equity markets to provisionally close marginally in the green on Thursday.
The key indices recovered in the last session of the day’s trade, as healthy buying was witnessed in fast moving consumer goods (FMCG) and oil and gas stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 19.75 points or 0.23 per cent to 8,595.05 points.
Similarly, the barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,805.94 points, provisionally closed at 27,859.60 points (at 3.30 p.m.) — up 84.72 points or 0.31 per cent, from the previous close at 27,774.88 points.
The Sensex touched a high of 27,902.39 points and a low of 27,697.33 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bears — with 1,506 declines and 1,175 advances.
On Wednesday, the benchmark indices had closed deep in the red due to profit booking, negative global cues and caution over upcoming quarterly results.
The Sensex had plunged by 310.28 points or 1.10 per cent to 27,774.88 points, while the Nifty fell by 102.95 points or 1.19 per cent to 8,575.30 points.