Short Covering Lifts Equity Markets

April 18, 2017 Author: Abhi Velani

The Indian equity markets traded on a positive note during the mid-afternoon trade session on Tuesday, on the back of short-covering in banking, automobile and oil and gas stocks.

However, gains were capped due to bearish global cues and caution over the upcoming monsoon update.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched higher by 18.55 points or 0.20 per cent to 9,157.85 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE traded higher by 89.35 points or 0.30 per cent. It opened at 29,487.78 points, traded at 29,503.01 points (1.30 p.m.) from its previous close at 29,413.66 points.

The Sensex touched a high of 29,701.19 points and a low of 29,473.30 points during the intra-day trade so far.