Bargain hunting lifts Indian equities

Mumbai: Bargain hunting, along with positive European indices lifted the Indian equities markets on Tuesday, but caution prevailed ahead of upcoming global economic events risks and the announcement of domestic inflation data.

The two key indices provisionally closed the day’s trade with appreciable gains — more than half a per cent each, as healthy buying was witnessed in automobile, banking and oil and gas stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 51 points or 0.62 per cent to 8,221.80 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,607.65 points, provisionally closed at 26,697.82 points (at 3.30 p.m.) — up 182.58 points or 0.69 per cent from the previous close at 26,515.24 points.

The Sensex touched a high of 26,724.97 points and a low of 26,494.23 points during the intra-day trade.

However, the BSE market breadth was marginally tilted in favour of the bears — with 1,299 declines and 1,289 advances.

On Monday, the equity markets had slipped on the back of profit booking and negative domestic cues.

The barometer index was down 231.94 points or 0.87 per cent, while the NSE Nifty slipped by 90.95 points or 1.10 per cent.