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Healthy macro data, strong rupee lift equity indices

Mumbai, Oct 13 (IANS) Healthy domestic factory output data, coupled with a strong rupee and healthy buying in banking, metal and consumer durables stocks, pushed the key Indian equity indices higher during the mid-afternoon trade session on Friday.

At 12.55 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 62.75 points, or 0.62 per cent, to trade at 10,159.15 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,247.74 points, traded at 32,405.04 points -- up 222.82 points, or 0.69 per cent, from its previous close.

The Sensex has so far touched a high of 32,445.22 points and a low of 32,247.74 points during intra-day trade.

The BSE market breadth was bullish with 1,407 advances and 1,120 declines.

"The Indian rupee strengthened against the US dollar to hit near three-week high. The shares of Bharti Airtel, Reliance Industries and Tata Steel rose, whereas the shares of ONGC and Adani Ports fell," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"August 2017 IIP (Index of Industrial Production) unexpectedly grew by 4.3 per cent year on year, which was largely broad based, from a subdued growth of 0.9 per cent in July 2017. The divergence in the growth estimate was largely due to unexpected growth in capital goods and consumer non-durables sector," said Desai.

On Thursday, the benchmark indices closed on a higher note buoyed by positive global cues and intense buying activity during the last hour of trade.

The Sensex closed at 32,182.22 points -- up 348.23 points, or 1.09 per cent, while the Nifty50 surged by 111.60 points, or 1.12 per cent, to close at 10,096.40 points.

--IANS

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