Indian equity market open in green

Mumbai, Sep 22, 2016: Taking cues from global markets the key Indian equity market indices opened in positive note on Thursday after the Federal Reserve left the US rates unchanged.

The Sensitive Index (Sensex) of the BSE, which had closed at 28,507.42 points on Wednesday, opened higher at 28766.94. Minutes into trading, it was trading at 28,834. 40 points, up 326.98 points, or 1.15 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,777.15 points, was quoting at 8,890.10 points, up 112.95 points or 1.29 per cent.

On Wednesday, the Indian equity markets closed flat, as the initial gains were pared by a last hour bout of profit booking.

The Sensex was down 15.78 points or, 0.06 per cent at the closing. In the day’s trade, the barometer 30-scrip sensitive index touched a high of 28,689.36 points and a low of 28,462.33 points. The Nifty, was marginally up by 1.25 points, or 0.01 per cent.

Domestic cues such as the proposal to merge the general and railway budget, along with consultations to advance the budget presentation date, provided some support to the equity markets. In addition, investors sentiments on Wednesday were dented by caution ahead of the US rate decision. Heavy selling pressure was witnessed in FMCG and banking stocks.

On Friday, Asian indices were trading in green showing a positive trend after investors saw no change in the US’ federal funds rate. Japan’s Nikkei 225 was trading in green, up 1.88 per cent, Hang Seng up by 1.44 per cent while South Korea’s Kospi was also up by 1.07 per cent. China’s Shanghai Composite index was also quoting in green, up by 0.82 per cent.

Overnight, the US stocks posted solid gains as the US Federal Reserve left its federal funds rate unchanged after the conclusion of its two day policy meeting. On a positive note, Nasdaq closed in green, up by 53.83 points and FTSE 100 rose by 3.98 points at the closing on Wednesday.


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