Value buying lifts equity markets higher

Mumbai, April 11 : Value buying and short covering lifted the Indian equity markets higher during the mid-afternoon trade session on Tuesday.

Healthy buying was witnessed in banking, IT and pharma stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 46.40 points or 0.51 per cent at 9,227.85 points.

The 30-scrip Sensitive Index (Sensex) of the BSE gained 200.46 points or 0.68 per cent during the mid-afternoon session.

The BSE Sensex, which opened at 29,630.06 points, traded at 29,776.20 points (at 1.00 p.m.) from its previous day's close at 29,575.74 points.

The Sensex touched a high of 29,787.05 points and a low of 29,570.58 points during the intra-day's trade so far.

"Equity benchmarks started off the day's trade on a slightly negative note but recovered immediately due to strong buying support. CNX Nifty extended gains in the morning, as it reclaimed the 9,200 points level, despite weak global cues," Dhruv Desai, Director and Chief Operating Officer of Tradebulls told IANS.

"However, depreciation in the Indian rupee against US dollar has pressurised investors' sentiments at higher levels."