Business

Strong rupee, positive global cues cheer Indian equities

Sensex

Mumbai, March 16: Positive global cues, a strong rupee and healthy buying in metals, capital goods and consumer durables stocks, brought a cheer to the Indian equity markets on Thursday.

The key indices provisionally closed with gains of more half a per cent each, well absorbing the 25 basis points (bps) rate hike by the US Federal Reserve on Wednesday for the second time in three months.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 68.95 points, or 0.76 per cent, to 9,153.75 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,482.83 points, provisionally closed at 29,585.85 points (at 3.30 p.m.) — up 187.74 points or 0.64 per cent from the previous close at 29,398.11 points.

The Sensex touched a high of 29,614.79 points and a low of 29,482.83 points during the intra-day trade.

The BSE market breadth was bullish — with 1,783 advances and 1,045 declines.

On Wednesday, the benchmark indices were pulled lower by heavy selling pressure in IT and Teck (technology, media and entertainment) stocks, coupled with disappointing macro-economic data.

The NSE Nifty slipped by 2.20 points or 0.02 per cent, to close at 9,084.80 points, while the BSE Sensex was marginally down 44.52 points or 0.15 per cent at 29,398.11 points.

IANS

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