Global cues, buying support lift equity indices to new highs

Key Indian equity indices on Friday provisionally closed at fresh highs riding on broadly positive global cues, along with buying support from oil and gas, banking and capital goods stocks.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE recovered almost 250 points from its day`s low at 34,342.16 points to provisionally close (at 3.30 p.m.) the day`s trade at a new high of 34,592.39 points -- up 88.90 points or 0.26 per cent -- from its previous session`s close.

However, the BSE market breadth remained bearish as 1,568 stocks declined as compared to 1,348 advances.

On the National Stock Exchange (NSE), the wider Nifty50 edged higher by 30.05 points or 0.07 per cent to close at 10,681.25 points.

The key indices -- which opened at fresh levels on Friday -- had slipped into the negative territory during the mid-afternoon session due to a sudden sell-off following a public attack on the Chief Justice of India by four senior colleagues, said market observers.

During early morning trade, the Sensex -- which opened at a fresh high of 34,578.99 points -- scaled a fresh intra-day high of 34,638.42 points.

The Nifty50 too had opened at a fresh level of 10,682.55 points and touched a new intra-day high of 10,690.25 points.

On Thursday, the equity indices closed with modest gains with healthy buying in IT, Tech and realty stocks.

The Nifty50 edged higher by 19 points or 0.18 per cent to close at 10,651.20 points, while the Sensex at 34,503.49 points -- up 70.42 points or 0.20 per cent.