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Short covering buoys Indian equities

Maharashtra,Business/Economy, Fri, 09 Dec 2016 IANS
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Mumbai, Dec 9 (IANS) Indian equities inched up on Friday as short covering, coupled with higher crude oil prices and firm global cues, buoyed investors' sentiments.

The key Indian indices provisionally closed on a flat to positive note as healthy buying was witnessed in banking, IT and FMCG stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 14.90 points or 0.18 per cent to 8,261.75 points.

Similarly, the barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,787.14 points, provisionally closed at 26,747.18 points (at 3.30 p.m.) -- up 52.90 points or 0.20 per cent from the previous close at 26,694.28 points.

The Sensex touched a high of 26,803.76 points and a low of 26,707.81 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,431 advances and 1,183 declines.

On Thursday, the equity markets propelled on the back of fresh inflows of foreign funds, coupled with positive global cues and rupee appreciation.

The barometer index was up 457.41 points or 1.74 per cent, while the NSE Nifty gained by 144.80 points or 1.79 per cent.

--IANS

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