Early trade: Indian equity market open in green

Mumbai, Oct 6, 2016: Taking cues from global markets the key Indian equity market indices opened on the positive note on Thursday.

The Sensitive Index (Sensex) of the BSE, which had closed at 28,220.98 points on Wednesday, opened higher and minutes into trading, it was trading at 28,285.17 points, up 64.19 points, or 0.23 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,743.95 points, was quoting at 8,746.15 points, up 2.20 points or 0.03 per cent.

On Wednesday, negative global cues, coupled with profit booking and disappointing macro data, pulled the Indian equity markets down.

The Sensex was down 113.57 points or 0.40 per cent at the closing.

In the day’s trade, the barometer 30-scrip sensitive index touched a high of 28,477.65 points and a low of 28,188.90 points. The Nifty was also down by 25.20 points or 0.29 per cent.

The Monetary Policy Committee’s announcement on Tuesday to cut a key lending rate by 25 basis points boosted the domestic markets.

The markets’ sentiments were positive after the International Monetary Fund (IMF) raised India’s growth projection by 0.2 percentage points to 7.6 per cent for 2016-17 and 2017-18.

However, disappointing macro data, which showed that India’s private sector economy lost momentum in September, hampered the risk-taking appetite.

Overnight, the Nasdaq on Wednesday, closed in green, up by 0.50 percent while FTSE ended in red, down by 0.58 per cent


Related Posts