Equity indices recover on European cues; realty stocks rise

Equity


Mumbai, Oct 26 : India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- rebounded during Tuesday's mid-afternoon trade session as healthy buying was witnessed in realty sector. During the initial trading hours, both the indices opened flat but rose thereafter only to cede all their gains. Nevertheless, the key indices have witnessed a recovery. Globally, Asian markets dipped from opening levels as fresh worries about China's property sector weighed on investors' sentiments post a good opening following gains on the wall street. Besides, European stock markets climbed higher. On the domestic front, volumes were in line with recent averages. All sectors traded in the green with Realty and Consumer Durables gaining the most. Consequently, the 30-scrip Sensex closed at 61,295.97 points, up 328.92 points, or 0.54 per cent. Similarly, the NSE Nifty50 ended the day's trade higher. It rose to 18,243.65, up 118.25 points, or 0.65 per cent. "Nifty after some intra day volatility may end up in the positive," said Deepak Jasani, Head of Retail Research, HDFC Securities. According to Likhita Chepa, Senior Research Analyst at CapitalVia Global Research: "Our research suggests that 60,400 levels will act as immedia te support level. we can expect the market to trade in the range of 60,400-6 1,400. "Traders will be cautiousness with the report that Foreign Institutional Investors (FII) have net sellers of domestic stocks for five consecutive days." /IANS




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