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Budget Expectations, Rupee Appreciation Lift Equities

Tuesday, January 10, 2017
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MUMBAI: Positive expectations from the upcoming Union Budget, along with appreciation in the rupee and higher crude oil prices, lifted Indian equity markets during the late afternoon trade session on Tuesday.

Healthy buying was witnessed in the automobile, metal and capital goods’ stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 45.75 points or 0.56  pct to 8,281.80 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,811.63 points, traded at 26,875.22 points (at 3.00 p.m.) — up 148.67 points or 0.56  pct from the previous close at 26,726.55 points.

The Sensex has so far touched a high of 26,914.95 points and a low of 26,804.17 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls — with 1,612 advances and 1,123 declines.

On Monday, profit booking, coupled with rupee depreciation subdued the Indian equities markets.

The NSE Nifty had inched down by 7.75 points or 0.09  pct to 8,236.05 points, while BSE Sensex receded by 32.68 points or 0.12  pct to 26,860.81 points.

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Source: IANS
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