Positive global cues push equity indices higher (Lead)

Mumbai Feb 26 (IANS) Positive global cues pushed the key indices of the Indian equity market higher during the early morning trade session on Monday.

According to market observers positive Asian markets along with healthy buying in automobiles banks capital goods oil and gas and metals stocks led to the rise.

At 12.50 p.m. the barometer 30-scrip Sensitive Index (Sensex) of the BSE traded at 34 371.98 points -- up 229.83 points or 0.67 per cent from its previous close of 34 142.15 points.

Similarly the wider Nifty50 of the National Stock Exchange (NSE) edged higher. It rose by 71.35 points or 0.68 per cent to 10 562.40 points.

In the intra-day trade so far the S&P BSE Sensex touched a high of 34 435.06 points and a low of 34 225.72 points.

"Sensex and Nifty took cues from the US and Asian markets to open in the positive territory and traded in the green till the afternoon trade so far " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.

"Nifty continuing its upward momentum can take markets to levels of 10 595 points - 10 650 points with support coming in at 10 480 points."

On Friday -- the previous trade session -- both the key indices closed at almost a week s highs as positive global cues along with a strong rupee and value buying lifted investors sentiments.

The Nifty50 had edged higher by 108.35 points or 1.04 per cent to close at 10 491.05 points while the Sensex closed at 34 142.15 points -- up 322.65 points or 0.95 per.

--IANS
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