March 20, 2012 / 5:17 AM / 5 years ago

Nifty rises; 200-DMA supportive

Stock brokers trade in a brokerage firm in Kolkata February 16, 2009.Jayanta Shaw/Files

Reuters Market Eye - The markets rose on Tuesday after three sessions of losses, with traders citing continued buying from foreign institutional investors despite a budget on Friday that largely disappointed markets.

Foreign investors bought a net 9.18 billion rupees in Indian stocks on the day of the budget on Friday, according to SEBI data, and a provisional 1.6 billion rupees on Monday, according to NSE data.

In the near-term, the 200-day moving average at around 5,200 points is expected to provide support for the Nifty index, analysts said.

The Nifty was last up 0.6 percent, after dropping nearly 4 percent over the previous three sessions. The BSE index was up 0.6 percent.

Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by Rafael Nam

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