Indian equities surge on positive global cues

Indian equities markets were on Monday lifted by positive global cues, coupled with a marginally strong rupee and healthy buying witnessed in automobile, oil and gas, and banking stocks.

The key indices traded with gains of more than half a per cent each during the mid-afternoon trade session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 47.45 points or 0.53 per cent, to 8,945 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,859.21 points, traded at 29,000.33 points (at 1.30 p.m.) -- up 167.88 points or 0.58 per cent from the previous close at 28,832.45 points.

The Sensex has so far touched a high of 29,070.20 points and a low of 28,856.12 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 1,487 advances and 1,248 declines.

Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said: "IT sector stocks traded with mixed sentiments while banking, textile, aviation, media-entertainment and telecom sector stocks traded with firm sentiments."

"However, pharma, auto, oil-gas, FMCG, cement and power sector stocks traded with sideways sentiments."

On Friday, the benchmark indices closed on a flat note as global cues and weak rupee eroded investors' risk-taking ability.

The NSE Nifty closed a tad lower by 2.20 points or 0.02 per cent at 8,897.55 points, and the barometer BSE Sensex was down 7.34 points or 0.03 per cent at 28,832.45 points.