Tuesday December 11, 2018
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Key Indian equity indices open higher after six-day fall

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Mumbai: After a fall for six consecutive days, key Indian equity indices unexpectedly opened higher on Thursday, as investors looked for fresh positions.

Analysts had expected the market to again open lower on account of developments both within the country and outside.

Against the previous close at 25,036.05 points, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 25,136.71 points. Within minutes into trading, the key index was ruling at 25,132.43 points, with a gain of 96.38 points, or 0.38 percent.

At the National Stock Exchange (NSE), too, the broader 50-share Nifty opened on the positive note and was ruling at 7,644.20 points with a gain of 31.70 points, or 0.42 percent, over the previous close at 7,612.50 points.

The underlying sentiments, however, is one of caution as investors are concerned over the delays in the passage of some key economic legislations in parliament, such as the one to introduce a pan-Indian goods and services tax regime, analysts said before the markets opened for trading.

The mood will also remain affected by mixed signals from the Chinese economy and falling commodity prices.

On Wednesday, the two key Indian indices had ended in the red. While the 30-share Sensex ended with a loss of 274.28 points or 1.08 percent, Nifty fell 89.20 points or 1.16 percent.

Continuing net sales by foreign funds, ahead of a likely US rate hike, further depressing investors.

“After an early move in the Wednesday’s trading session, the US stocks failed to sustain the upside move and closed in the negative territory. The positive movement was mainly fueled by a slight rebound in oil prices,” Angel Broking said in an analysis, ahead of the opening bell in India.

“The European markets also continued to slide and closed on a negative note. The encouraging economic data from Japan and China failed to boost investor sentiment amidst lower crude and commodity prices,” the brokerage said.

In the Asia-Pacific markets, the sentiments appeared to be mixed. Japan’s Nikkei and Australia’s S&P/ASX 200 were down, but Hong Kong’s Hang Seng and China’s Shanghai Composite were up after paring some early losses on Thursday morning. South Korean Kopsi was flat.(ians)

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Indices of Indian Equity Makes Trade go Higher

Key Indian Equity indices makes trade higher.

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Stock Market Building of India.
Stock Market Building.

Key Indian equity indices — after opening on a flat-to-positive note — traded higher during Tuesday’s morning session with healthy buying in metals, consumer durables and banking stocks.

Around 10.20 a.m., the wider Nifty50 of the National Stock Exchange traded higher by 19.40 points or 0.18 per cent at 10,547.75 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,381.80 points, traded at 34,378.39 points — up 72.96 points or 0.21 per cent from its previous session’s close.

The Sensex has so far touched a high of 34,402.90 points and a low of 34,284.67 points during the intra-day trade.

The BSE market breadth was bullish with 1,367 advances and 694 declines.

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On Monday, healthy macro-economic data, along with expectations of robust quarterly corporate earnings, led the equity indices to close on a higher note for the eighth consecutive session.

The Nifty50 was up 47.75 points or 0.46 per cent to close at 10,528.35 points, while the Sensex closed at 34,305.43 points — up 112.78 points or 0.33 per cent.  IANS

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