Global cues, positive macros push equities higher

Mumbai, Oct 18 Positive global cues as well as healthy Q2 results pushed equities higher on Monday.

In the process, S&P BSE Sensex made an intraday high of 61,894.33 points and the NSE Nifty50 touched 18,524.40 points.

The two indices had a gap-up opening and held on to the initial gains encouraged by positive global cues.

Consequently, the 30-scrip sensitive index traded at 61,772.72 points around 11.25 a.m., up 466.77 points or 0.76 per cent.

The Sensex opened at 61,817.32 points from its previous close of 61,305.95 points.

Besides, the NSE Nifty50 traded at 18,496.10 points, up by 157.55 points or 0.86 per cent.

It opened at 18,500.10 points from its previous close of 18,338.55 points.

"The Indian benchmark started with a gap up opening amid positive global clues," said Gaurav Garg, Head of Research at CapitalVia Global Research.

"Traders will be taking encouragement as Minister of State for External Affairs said The indian economy is bouncing back strongly, domestic consumption is increasing and industrial production is at pre-Covid level."

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor