Equity indices rise on global cues; metal, oil and gas stocks surge
Mumbai: Key Indian equity indices -- the NSE Nifty 50 and the BSE Sensex -- on Wednesday provisionally closed on a higher note as positive global cues and healthy buying in metal, oil and gas, and banking stocks lifted investors' sentiments.
According to market observers, healthy buying in index heavyweights like Reliance Industries, Adani Ports, HDFC, HDFC Bank and Tata Steel aided the upward trajectory of the indices.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) reclaimed the psychologically important 9,900-mark to touch a high of 9,909.45 points during intra-day trade.
However, on a closing basis, the Nifty 50 could not retain that level and provisionally closed at 9,882.45 points -- up 86.40 points or 0.88 per cent (at 1520 p.m.).
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,534.57 points, closed at 31,646.46 points -- up 258.07 points or 0.82 per cent from its previous close at 31,388.39 points.
The Sensex touched a high of 31,727.98 points and a low of 31,533.02 points during the intra-day trade.
The BSE market breadth was bullish with 1,773 advances and 798 declines.
On Tuesday, the benchmark indices closed deep in the red as rising geo-political tension in East Asia, along with foreign fund outflows, subdued sentiments.
The Nifty 50 closed lower by 116.75 points or 1.18 per cent at 9,796.05 points, while the Sensex closed at 31,388.39 points -- down 362.43 points or 1.14 per cent.