Positive macro-data, value buying lift equity markets

Last Updated: Fri, Oct 14, 2016 15:45 hrs

The Indian equity markets on Friday made gains during the late-afternoon trade session on the back of positive inflation macro-data points and value buying.

However, gains were capped due to long-liquidation which was triggered by caution over the ongoing quarterly earnings season.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 17.20 points or 0.20 per cent to 8,590.55 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,712.22 points, traded at 27,705.83 points (at 2.30 p.m.) -- a slight rise of 62.72 points or 0.23 per cent from the previous close at 27,643.11 points.

The Sensex touched a high of 27,763.54 points and a low of 27,548.18 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls -- with 1,672 advances and 990 declines.

On Thursday, both the key Indian indices had plunged due to global cues such as increased chances of a US rate hike, disappointing China trade data and renewed fears of an early exit of Britain from the European Union (Brexit).

The barometer index had receded by 439.23 points or 1.56 per cent to 27,643.11 points, while the NSE Nifty plunged by 135.45 points or 1.56 per cent to 8,573.35 points.

Initially on Friday, the benchmark indices opened on a positive note in sync with their Asian peers.

More from Sify: