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Global cues, healthcare stocks propel equity indices (Lead)

Mumbai, Nov 21 (IANS) Positive Asian markets, coupled with strong buying in stocks of healthcare majors like Dr. Reddy’s Lab, Sun Pharma, Cipla and Lupin, propelled the key Indian equity indices during the mid-afternoon trade session on Tuesday.

According to market observers, the key indices discarded the previous day’s lacklustre performance to trade with substantial gains as healthy buying was witnessed in consumer durables, healthcare and oil and gas stocks.

Around 12.50 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 53 points or 0.51 per cent at 10,351.75 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,438.28 points, traded at 33,555.87 points — up 195.97 points or 0.59 per cent — from Monday’s close.

The Sensex has so far touched a high of 33,564.84 points and a low of 33,437.61 points during intra-day trade.

The BSE market breadth was bullish — 1,571 advances and 917 declines.

“Benchmark indices opened on a positive note following higher Asian stocks. The dollar hovered near a one-week high against its peers on the back of higher US yields and a struggling euro,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

On Monday, the indices closed on a flat-to-positive note as selling pressure in IT, banking and Teck stocks, along with subdued global cues and outflow of foreign funds, trimmed gains.

The NSE Nifty50 closed higher by 15.15 points or 0.15 per cent to close at 10,298.75 points, while the Sensex closed at 33,359.90 points — up 17.10 points or 0.05 per cent.

Post Source: Ians feed

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