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Equities trade on a higher note; cap goods, IT stocks lift sentiments 

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Mumbai: Key Indian equity indices — the NSE Nifty50 and the BSE Sensex — traded on a higher note during mid-afternoon trade session on Monday as healthy buying in capital goods, consumer durables and IT stocks and a strong rupee lifted investors’ sentiments.

Intense buying observed in index heavyweights like Infosys, Hero MotoCorp, Sun Pharma and Adani Ports, too, added to the upward trajectory of the key indices.

Around 1 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) traded above the psychologically important 9,900-mark. It rose by 57.85 points or 0.59 per cent to 9,914.90 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,756.87 points, traded at 31,783.96 points — up 187.90 points or 0.59 per cent from Thursday’s close at 31,596.06 points.

The Sensex has so far touched a high of 31,809.70 points and a low of 31,701.67 points during the intra-day trade.

The BSE market breadth was bullish with 1536 advances and 855 declines.

“Major Asian indices came under pressure in early Monday trade after the euro soared following Friday speeches from top central bankers. Oil markets, meanwhile, digested the impact of Hurricane Harvey,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“Top gainers on the NSE were Eicher Motors, Sunpharma and Adaniports, while top losers were Dr. Reddy’s Lab, Powergrid and TCS.”

On Thursday, the benchmark indices closed on a flat-to-positive note as short covering in healthcare stocks, coupled with positive European markets and a strong rupee, kept investors’ sentiments afloat.

The Nifty closed fractionally higher by 4.55 points or 0.05 per cent at 9,857.05 points, while the Sensex closed at 31,596.06 points — up 28.05 points or 0.09 per cent.

The Indian equity markets were closed on Friday on account of Ganesh Chaturthi.

IANS

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