Mumbai Oct 3 (IANS) Key Indian equity indices surged during the mid-afternoon trade session on Tuesday as positive global cues coupled with healthy buying in automobile consumer durables and oil and gas stocks lifted investors sentiments.
According to market observers expectations of an economic stimulus package aided in the equity markets rise.
Around 12.45 p.m. the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) rose by 80.90 points or 0.83 per cent to trade at 9 869.50 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 537.81 points traded at 31 552.34 points -- up 268.62 points or 0.86 per cent.
The Sensex has so far touched a high of 31 615.28 points and a low of 31 440.48 points during the intra-day trade.
The BSE market breadth was bullish -- with 1 497 advances and 962 declines.
"Benchmark indices traded higher with the Nifty50 trading near 9 850 ahead of the Reserve Bank of India s policy review that kicks off later in the day. The Indian rupee weakened against the US dollar " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
"Top gainers on the NSE were Tata Motors Gail and Bajaj Auto while on the losing side were Power Grid Maruti Suzuki and State Bank of India " he added.
On Friday the benchmark indices closed on a flat-to-positive note as investors booked profits.
The Nifty50 was up 19.65 points or 0.20 per cent to close at 9 788.60 points while the Sensex closed at 31 283.72 points -- up a mere 1.24 points.
--IANS
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