Mumbai : Indian equities markets surged during the mid-afternoon trade session on Monday as broadly positive Asian indices and a strong rupee buoyed investors’ sentiments.
However, some gains were capped due to caution ahead of derivatives expiry and profit booking.
The key indices traded in the green, with healthy buying witnessed in metal, healthcare and consumer durables stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 31.65 points or 0.36 per cent to 8,853.35 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,481.91 points, traded at 28,572.18 points (at 1.30 p.m.) — up 103.43 points or 0.36 per cent from the previous close at 28,468.75 points.
The Sensex has so far touched a high of 28,587.60 points and a low of 28,419.27 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bulls — with 1,688 advances and 1,007 declines.
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the CNX Nifty traded with firm sentiments due to buying support
“Bearish USD/INR futures prices supported the firm sentiments of the Indian equities markets,” Desai said.
“Banking, pharma and auto stocks traded with sideways to firm sentiments, while oil-gas, textile, aviation, media-entertainment, FMCG, cement and power stocks traded with firm sentiments due to buying support.”
On Friday, the benchmark indices rose to new five-month closing highs on the back of fresh buying.
The NSE Nifty edged up by 43.70 points or 0.50 per cent to close at 8,821.70 points, and the BSE Sensex was up 167.48 points or 0.59 per cent at 28,468.75 points.
