Value buying lifts equity markets

Mumbai, May 24 (IANS) Value buying, along with positive European indices, pushed the Indian equity markets higher on Tuesday.

Consequently, key indices provisionally closed the day’s trade in the green, as healthy buying was witnessed in automobile and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 17.80 points, or 0.23 percent, at 7,748.85 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,256.97 points, provisionally closed at 25,305.47 points (at 3.30 p.m.) — up 75.11 points or 0.30 percent from the previous close at 25,230.36 points.

The Sensex touched a high of 25,340.47 points and a low of 25,181.47 points during the intra-day trade.

In contrast, the BSE market breadth was skewed in favour of the bears — with 1,599 declines and 907 advances.

Both the key Indian indices had ended on a lower note during the previous trade session on Monday.

The barometer index had fallen by 71.54 points or 0.28 percent, while the NSE Nifty had slipped by 18.65 points or 0.24 percent.

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