Banks, IT stocks lift equities; Sensex closes over 300 points
Mumbai: Key Indian equity indices on Thursday broke their three-day losing streak and provisionally closed in the positive territory, with the BSE Sensex surging over 300 points during the mid-afternoon session.
According to market observers, healthy buying in banking, IT and metal stocks pushed the equity indices higher.
The wider Nifty50 of the National Stock Exchange (NSE) rose by 96.70 points, or 0.96 per cent, to provisionally close (at 3.30 p.m.) at 10,214.75 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,829.82 points, closed at 33,106.82 points -- up 346.38 points or 1.06 per cent -- from Wednesday's close.
The Sensex touched a high of 33,165.15 points and a low of 32,829.82 points during intra-day trade.
The BSE market breadth was bullish -- 1,679 advances and 982 declines.
On Wednesday, the benchmark indices were dragged lower by a huge sell-off in metal stocks as well as disappointing trade deficit data.
The NSE Nifty50 fell by 68.55 points or 0.67 per cent to 10,118.05 points, while the Sensex of the BSE closed at 32,760.44 points -- down 181.43 points or 0.55 per cent.