Equity indices recover from day's lows on buying support

Last Updated: Fri, Jan 12, 2018 15:07 hrs

Key Indian equity indices recovered from the day's lows to trade on a flat-to-positive note during the mid-afternoon trade session on Friday with buying support from oil and gas, and banking stocks.

The key indices -- which opened at fresh levels on Friday -- had slipped into the negative territory on a sudden sell-off on account of an unprecedented event in which four senior judges of the Supreme Court met the media to complain that the administration of the country's top court was not in order, said market observers.

The Sensex recovered almost 200 points from its day's low at 34,342.16 points.

Around 2 p.m., the barometer 30-scrip Sensitive Index (Sensex) of the BSE rose by 36.84 points or 0.11 per cent to trade at 34,540.33 points.

However, the BSE market breadth remained bearish as 1,610 stocks declined as compared to 1,208 advances.

Around the same time, the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 7.90 points or 0.07 per cent to 10,659.10 points.

During early morning trade, the Sensex -- which opened at a fresh high of 34,578.99 points -- scaled a fresh intra-day high of 34,638.42 points.

The Nifty50 too had opened at a fresh level of 10,682.55 points and touched a new intra-day high of 10,690.25 points.

On Thursday, the equity indices closed with modest gains with healthy buying in IT, Teck and realty stocks.

The Nifty50 edged higher by 19 points or 0.18 per cent to close at 10,651.20 points, while the Sensex at 34,503.49 points -- up 70.42 points or 0.20 per cent.

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