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DIIs inflows, global cues lift Indian equities (Lead)

Mumbai, Sep 29 (IANS) Continous pumping in of funds by domestic institutional investors (DIIs), coupled with broadly positive global cues and healthy buying in automobile, oil and gas, and metal stocks, lifted the key Indian equity indices for the second consecutive trade session on Friday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) reclaimed the psychologically important 9,800-mark to trade at 9,835.45 points — up 66.50 points or 0.68 per cent (at 1.10 p.m.).

The 30-scrip Sensitive Index of the BSE, which opened at 31,367.25 points, traded at 31,466.60 points — up 184.12 points, or 0.59 per cent, from its previous close at 31,282.48 points.

The Sensex has so far touched a high of 31,488.87 points and a low of 31,358.98 points during intra-day trade.

The BSE market breadth was bullish — with 1,744 advances and 585 declines.

“Markets opened strong on Friday as the Sensex jumped over 170 points and the Nifty recaptured the 9,800 mark on continued buying support from DIIs. The October derivatives series got off the ground on a solid footing,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“All sectoral indices including realty, metal and oil and gas made gains, rising up to 2.71 per cent. DIIs bought shares worth Rs 5,196.60 crore on Friday, as per provisional data.”

According to Desai, investors were seen creating new positions following the beginning of the October futures and options series that lifted the key indices.

On Thursday, the benchmark indices broke a seven-day-long losing streak to close in the green on the back of positive European markets and bargain hunting.

The Nifty50 rose by 33.20 points or 0.34 per cent to close at 9,768.95 points, while the Sensex closed higher by 122.67 points, or 0.39 per cent, at 31,282.48 points.

Post Source: Ians feed

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