Mumbai: Positive global cues, coupled with the government’s efforts to build consensus on the bankruptcy bill, cheered the Indian equity markets on Wednesday. This led a barometer index to provisionally close with gains of 260 points during the day’s trade.
Initially, both the bellwether indices of the Indian equity markets opened on a positive note in sync with their Asian peers. Besides Asian markets, Tuesday’s rally in the US stocks after a key macro-economic data indicated healthy growth in the world’s largest economy cheered investors here.
In addition, government’s efforts to build a consensus to pass the crucial bankruptcy bill restored investors’ confidence.
Furthermore, the bill has been referred to a joint parliamentary committee which will iron out any differences on the legislation before the budget session which is slated for February. The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading 260 points higher.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) made gains during the session under review. It was trading higher by 77.20 points or 0.99 percent at 7,863.30 points.
The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 25,697.66 points, provisionally closed at 25,850.30 points (at 3.30 p.m.) – up 259.65 points or 1.01 percent from the previous day’s close at 25,590.65 points.
The Sensex touched a high of 25,875.27 points and a low of 25,689.70 points during the intra-day trade. It had closed the previous session on Tuesday, down 145.25 points or 0.56 percent, while the Nifty ended lower by 48.35 points or 0.62 percent.