Key Indian equity market indices open higher

Key Indian equity market indices open higher

Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher.

The Sensitive Index (Sensex) of the BSE, which had closed at 31,159.81 points on Wednesday, opened higher at 31,216.36 points.

Minutes into trading, it was quoting at 31,148.35 points, down by 11.46 points, or 0.04 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,735.75 points, was quoting at 9,709.80 points, down by 25.95 points or 0.27 per cent.

The key Indian equity indices tumbled for the seventh consecutive session and closed deep in the red on Wednesday, as caution ahead of futures and options (F&O) expiry, coupled with a weak rupee and profit booking in banking, capital goods and automobile stocks, hampered investors’ risk-taking appetite.

According to market observers, the seven-day fall was the longest losing streak for the indices after a nine-day fall that occurred during December 13 to 26, 2016.

Besides, a sell-off was triggered in the key indices on updates that the Indian Army inflicted “heavy casualties” on NSCN-K militants during a fire fight along the border with Myanmar.

The Sensex was down by 439.95 points or 1.39 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 31,797.46 points and a low of 31,100.80 points. The Nifty too was down by 135.75 points or 1.38 per cent.

On Thursday, Asian indices were mostly showing a negative trend. Japan’s Nikkei 225 was trading in green, up by 0.31 per cent. Hang Seng was though down by 0.36 per cent while South Korea’s Kospi was down by 0.11 per cent.

China’s Shanghai Composite index was quoting in red, down by 0.12 per cent.

Nasdaq closed in green, up 1.13 per cent while FTSE 100 was also up 0.38 per cent at the closing on Wednesday.

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