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IANS
Mumbai
Healthy foreign fund inflows along with low crude oil prices and a strengthened rupee guided the key Indian equity indices to close Thursday's trade session on a positive note.
In addition, broadly positive global stock markets enhanced investors' risk-taking appetite.
Sector-wise, healthy buying was witnessed in finance, banking and realty stocks, whereas the BSE Telecom index lost 1.16 percent, the most among all the 19 sectors on BSE. Selling pressure in telecom sector was due to the heavy loss reported by country's largest telecom operator, Vodafone Idea, for the quarter ended September.
In its first quarterly results after the merger in August, the company reported a consolidated net loss of Rs4,973.8 crore during the July-September period.
Consequently, the S&P BSE Sensex closed 118.55 points or 0.34 percent higher, at 35,260.54 points. It had opened at 35,145.75 points from its previous close of 35,141.99 points.
It touched an intra-day high of 35,402 and a low of 35,118.42. The NSE Nifty50 closed 40.40 points higher or 0.38 percent at 10,616.70 points. Most Asian shares were trading higher after an improvement in market risk sentiment following British Prime Minister Theresa May's statement that she had obtained enough support for her proposed Brexit deal to move forward," said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund. According to HDFC Securities' Retail Research Head, Deepak Jasani:"Technically, the short-term trend of Nifty continues to be a choppy, below the key overhead resistance of 10,650. A sustainable move above 10,650 levels could have a further positive impact on the Nifty ahead. Immediate support is now placed at 10,560 levels."
"Major Asian markets have closed on a positive note, barring the Nikkei Index."
The day's gains were attributed to healthy foreign fund inflows which touched a three-month high."Healthy buying in FII (Foreign Institutional Investors) had started in debt segment and today a healthy buying was seen in the equity segment owing to the falling crude oil prices and a recovery in rupee," Jasani told IANS.
