Equity Markets Edge Up On Positive Macro Data 

Mumbai: The Indian equity markets on Friday closed on a flat-to-positive note on the back of positive inflation macro-data points and value buying. However, gains were capped due to long-liquidation which was triggered by caution over the ongoing quarterly earnings season.

The wider Nifty inched up by 10.05 points or 0.12 per cent to 8,583.40 points. The market barometer 30-scrip Sensex closed at 27,673.60 points, a slight rise of 30.49 points or 0.11 per cent from the previous close at 27,643.11 points.

Opened at 27,712.22 points, Sensex touched a high of 27,763.54 points and a low of 27,548.18 points during the intra-day trade. The BSE market breadth was tilted in favour of the bulls with 1,722 advances and 1,070 declines.

On Thursday, both the key Indian indices plunged due to global cues such as increased chances of a US rate hike, disappointing China trade data and renewed fears of an early exit of Britain from the European Union (Brexit). The barometer index had receded by 439.23 points or 1.56 per cent to 27,643.11 points, while the NSE Nifty plunged by 135.45 points or 1.56 per cent to 8,573.35 points.

The benchmark indices opened on a positive note in sync with their Asian peers. The markets witnessed some gains during the late-afternoon session on the back of positive inflation macro-data points and value buying. But, equities couldn't sustain gains as caution prevailed over the markets ahead of quarterly numbers from corporate sector.

Rupee Recovers 11 Paise

The rupee on Friday appreciated by 11 paise to 66.83 against the US dollar at the Interbank Foreign Exchange (forex) on fresh selling of the American currency by exporters. Besides, the retail inflation in September dropping to 13-month low of 4.31 per cent and a higher opening of the domestic equity market also supported the rupee, but dollar's strength against some currencies overseas capped the gains, forex dealers said.

The rupee had lost 41 paise, its biggest one-day fall in over three months, to close at fresh three-week low of 66.94 against the dollar on Thursday on renewed concerns over potential interest rate hike by the US Federal Reserve.

Source: IANS / PTI