Bargain hunting lifts equity markets

Mumbai, Oct 20: Bargain hunting and positive global indices lifted the Indian equity markets on Thursday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) gained by 37.05 points or 0.43 per cent to 8,696.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,031.57 points, provisionally closed at 28,129.84 points (at 3.30 p.m.) -- up 145.47 points or 0.52 per cent from the previous close at 27,984.37 points.

The Sensex touched a high of 28,212.50 points and a low of 28,031.57 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bulls -- with 1,597 advances and 1,225 declines.

On Wednesday, the equity markets declined on the back of profit booking, along with outflow of foreign funds and caution ahead of upcoming quarterly results.

The barometer index had receded by 66.51 points or 0.24 per cent to 27,984.37 points, while the NSE Nifty fell by 18.80 points or 0.22 per cent to 8,659.10 points.