Equities at 6-month high on stimulus hopes (Ld)

Indian equity markets made healthy gains on Wednesday to close at a new six-month high, as expectations built up of new stimulus measures to aid Industry.

The session was the fourth consecutive time that the key indices rose.

Sector-wise, the top gainers were BSE Auto, Bankex, IT and Realty indices, whereas top losers were BSE Telecom, Capital Goods, and FMCG indices.

Globally, markets around the world are awaiting the US Fed Chairman's speech at the Jackson Hole Symposium on Thursday, for getting further cues on future stimulus measures.

On Wednesday, major Asian markets closed on a mixed note.

However, European indices like the CAC and DAX ended higher.

Index-wise, the BSE Sensex closed at 39,073.92, higher by 230.04 points or 0.59 per cent from the previous close of 38,843.88.

It opened at 38,930.18 and touched an intra-day high of 39,111.55 and low of 38,765.09 points.

The Nifty50 on the National Stock Exchange closed at 11,549.60, higher by 77.35 points or 0.67 per cent from the previous close.

According to Vinod Nair, Head of Research at Geojit Financial Services: “Indian benchmark indices picked up positivity towards the latter half of the trading day, after trading flat with a slight positive bias, and ended in gains. It was in sync with a positive opening in the European markets which is banking on additional stimulus measures to aid economic recovery.”