Positive global cues, Q1 results buoy equity indices

Positive global cues, Q1 results buoy equity indices
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Mumbai: Broadly positive global cues and expectations of healthy quarterly results buoyed the key Indian equity indices during the mid-afternoon trade session on Wednesday.

According to market observers, healthy buying in consumer durables, banking and oil and gas stocks lifted the key indices.

At 2:10 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 11,429.95 points, higher by 40.50 points or 0.36 per cent.

Similarly, the benchmark S&P BSE Sensex made gains during the session, trading at 37,845.03 points, higher by 179.23 points or 0.48 per cent from its previous close.

Sector-wise, the S&P BSE consumer durables index gained 303.51 points and the banking index rose 178.12 points.

On the other hand, the S&P BSE IT index declined by 17.62 points and the healthcare index dipped by 13.81 points.

On Tuesday’s previous trade session, profit booking, along with concerns over global protectionist measures, subdued both the key indices.

Consequently, the barometer had closed at 37,665.80 points, down by 26.09 points and 0.07 per cent on Tuesday.

In contrast, the Nifty50 closed on a flat-to-positive note at 11,389.45 points, up by just 2.35 points or 0.02 per cent.

IANS