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Banking, blue chip buy-ins lift equity markets
TIWN
Banking, blue chip buy-ins lift equity markets
PHOTO : TIWN

Mumbai, Aug 4 (TIWN) Healthy buying in the banking sector as well as in the auto sector pushed the Indian equity market higher on Tuesday.

The market ended sharply higher on Tuesday after four sessions of losses.

Even though the two key indices opened on a shaky note, buying at lower levels stabilised and pushed the market's trajectory higher.

Sectorally, the top gainers were the BSE Realty, Bankex, Auto, Healthcare and Metal indices, whereas BSE IT index lost some ground.

Major Asian markets had closed on a positive note.

Index-wise, the NSE Nifty50 closed at 11,095.25, up by 203.65 points or 1.87 per cent from its previous close.

The Sensex closed at 37,687.91, higher by 748.31 points or 2.03 per cent from the previous close of 36,939.60.

It had opened at 37,092.86 and touched an intra-day high of 37,745.60 and a low of 36,987.73 points.

"Technically, with the Nifty bouncing back sharply after finding support at the 200 day SMA, the bulls seem to have made a comeback," said Deepak Jasani, Head of Retail Research at HDFC Securities.

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