Equity markets surge ahead of monetary policy review

Mumbai: Hopes on easing of India’s monetary policy, coupled with broadly positive Asian indices, buoyed the Indian equity markets during the early morning trade session on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 38.10 points, or 0.44 per cent to 8,776.20 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,377.64 points, traded at 28,370.59 points (at 9.30 a.m.) — up 127.30 points, or 0.45 per cent from the previous close at 28,243.29 points.

The Sensex has so far touched a high of 28,402.65 points and a low of 28,306.94 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls — with 1,243 advances and 332 declines.

On Tuesday, both the key Indian soared on the back of positive global cues, coupled with value buying and higher crude oil prices.

The barometer index had gained 377.33 points, or 1.35 per cent to 28,243.29 points, while the NSE Nifty surged 126.95 points, or 1.47 per cent to 8,738.10 points.