Indian equities surge on positive global cues (Lead)

Mumbai March 6 (IANS) Indian equities markets were on Monday lifted by positive global cues coupled with a marginally strong rupee and healthy buying witnessed in automobile oil and gas and banking stocks.

The key indices traded with gains of more than half a per cent each during the mid-afternoon trade session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 47.45 points or 0.53 per cent to 8 945 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE which opened at 28 859.21 points traded at 29 000.33 points (at 1.30 p.m.) -- up 167.88 points or 0.58 per cent from the previous close at 28 832.45 points.

The Sensex has so far touched a high of 29 070.20 points and a low of 28 856.12 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1 487 advances and 1 248 declines.

Dhruv Desai Director and Chief Operating Officer of Tradebulls said: IT sector stocks traded with mixed sentiments while banking textile aviation media-entertainment and telecom sector stocks traded with firm sentiments.

However pharma auto oil-gas FMCG cement and power sector stocks traded with sideways sentiments.

On Friday the benchmark indices closed on a flat note as global cues and weak rupee eroded investors risk-taking ability.

The NSE Nifty closed a tad lower by 2.20 points or 0.02 per cent at 8 897.55 points and the barometer BSE Sensex was down 7.34 points or 0.03 per cent at 28 832.45 points.

--IANS
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