Mumbai: Positive global indices, coupled with healthy buying in capital goods, auto, banking, healthcare and metal stocks, lifted the key Indian equity indices on Monday.Market observers said investors awaited the retail and industrial inflation data due to be announced in the evening which is expected to give direction to the central banks next course of action on raising interest rates.The wider Nifty50 of the National Stock Exchange held the 10,500-mark and closed higher by 84.80 points or 0.81 per cent at 10,539.75 points.On the BSE, the barometer 30-scrip Sensitive Index (Sensex) closed at 34,300.47 points -- up 294.71 points or 0.87 per cent from its previous close.The Sensex touched a high of 34,351.34 points and a low of 34,115.12 points during the intra-day trade.The BSE market breadth was bullish as 2,050 stocks advanced as against 764 declines.In terms of the broader markets, the S&P BSE mid-cap index edged higher by 1.31 per cent and the small-cap index by 1.60 per cent.Markets bounced back on Monday after the correction seen on last Friday. The gains came on the back of strong global cues, Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.Major Asian markets closed on a positive note, barring the Hang Seng index. European indices like FTSE 100, DAX and CAC 40 traded in the green, he added.Last week on Friday, the key equities had plunged into the negative territory amid a global sell-off, with the Sensex shedding 407.40 points or 1.18 per cent and the Nifty50 was down 121.90 points.Vinod Nair, Head of Research, Geojit Financial Services, said: On Monday, market reversed from previous days losses owing to positive global cues and expectation of marginal decline in January CPI (Consumer Price inflation) inflation today.Mid and small-caps outperformed the benchmark indices as investors start accumulating the over sold stocks. The economy is forecast to improve in the long-term with strong earnings growth which is likely to provide a safety to the ongoing consolidation, he added.The Central Statistics Office (CSO) is slated to release the macro-economic data points of the CPI and IIP (Index of Industrial Production) on Monday evening.On the currency front, the Indian rupee strengthened by nine paise to close at 64.31 against the US doll.
Global indices, stock-specific buying lift Indian equities. This article is published at 13 February 2018 11:25 from Sify Indian Business and Finance News, click on the read full article link below to see further details.
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