Short covering, positive global cues buoy equity markets

Mumbai: Short covering, along with positive global 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) rose by 30.80 points or 0.35 per cent to 8, 753.85 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,373.02 points, traded at 28,379.06 points (at 9.40 a.m.) — up 84.78 points or 0.30 per cent from the previous close at 28,294.28 points.

The Sensex has so far touched a high of 28,432.74 points and a low of 28,354.10 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls — with 1,207 advances and 417 declines.

On Monday, both the key Indian indices had Aplunged on the back of negative global cues and caution ahead of F&O (futures and options) expiry.

The barometer index had receded by 373.94 points or 1.30 per cent to 28,294.28 points, while the NSE Nifty declined by 108.50 points or 1.23 per cent to 8,723.05 points.