Sensex open on a positive note in morning trade

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Key Indian equity indices opened higher on Thursday in line with global cues, particularly after the US Federal Reserve kept its key interest rates unchanged.

The 30-scrip Sensitive Index (Sensex) of BSE, which had closed at 24,682.48 points on Wednesday, opened the day at 24,852.18 points. Minutes after, it was trading at 24,907.83 points with a gain of 225.35 points or 0.91 percent.

Similarly, at the National Stock Exchange (NSE), the 50-share Nifty was trading 58.65 points or 0.78 percent higher at 7,557.40 points.

On Wednesday, the Sensex, which was in the red for the most of the trading session, saw a final-hour rally and eventually closed with a gain of 131.31 points, or 0.53 percent. The Nifty also closed 38.15 points or 0.51 percent higher.

“The US markets moved up on Wednesday, with S&P 500 and Dow reaching new highs of 2016, after the Federal Reserve kept its key interest rates unchanged and downgraded its forecast for number of rate increases to two in 2016 from the earlier projected four,” Angel Broking said.

“Also, the US inflation increased more than expected in February as rents and medical costs maintained their upward trend. Further, housing market continued its strength last month and
manufacturing stabilised,” the brokerage said.

“Indian markets bounced back in the last hour of trade with Nifty reclaiming the 7,500-point intra-day mark on Wednesday, ahead of the outcome of the Fed meeting. Private sector banks, fast moving consumer goods and select technology stocks helped the market re-bound.”

Wefornews Bureau

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