Equity markets trade in green; banks, auto stocks rise
Benchmark BSE Sensex was trading above 31,300 in the afternoon trade, while NSE Nifty index was above 9,650 mark.
The Indian equity markets traded with gains during the mid-afternoon session on Thursday, with healthy buying witnessed in banking, automobile and capital goods stocks.
Around 1.40 p.m., the wider Nifty of the National Stock Exchange (NSE) was trading at 9,680.55 points -- an increase of 42.95 points or 0.45 percent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,298.42 points, traded at 31,396.02 points -- up 150.46 points, or 0.48 percent, from its previous close at 31,245.56 points.
The Sensex had so far touched a high of 31,428.03 points and a low of 31,264.86 points during the intra-day trade.
The BSE market breadth was bullish -- with 1,598 advances and 957 declines.
"Equity benchmarks opened moderately higher today despite weak Asian market," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
"Auto, FMCG, healthcare and metals traded in the positive, while oil and gas and consumer durables sectors traded in the negative. Banking sector traded in the green on account of weekly Bank Nifty expiry," he added.
On Wednesday, the benchmark indices trimmed some losses on the back of healthy services sector data, positive global indices and inflow of foreign funds, to close marginally higher.
The Nifty was up by 24.30 points or 0.25 per cent to close at 9,637.60 points, while the Sensex closed at 31,245.56 points -- up 35.77 points, or 0.11 percent.