Indian equity markets opened significantly higher on Wednesday on the back of strong global cues after having lost ground the day before.
The government’s decision on foreign investment in retail trade gave a positive signal over continuity of economic reforms.
The sensitive index (Sensex) of BSE opened at 25,062.06 points, against the previous close at 24,900.46 points.
Minutes after, the 30-share index was ruling at 25,093.11 points, with a gain of 192.65 points, or 0.77 percent.
At the National Stock Exchange, the 50-share Nifty opened at 7,651.10 points, against the previous close at 7,597.00. The index subsequently was trading at 7,654.20 points, up 57.20 points, or 0.75 percent.
The mood of the investors was distinctly positive during the early hours of trading. At the BSE, 28 out of 30 Sensex shares were ruling in the green, while at the NSE, 47 out of the 50 Nifty shares were in the positive territory.
On Tuesday profit booking, unwinding of long positions ahead of derivatives expiry and caution over a likely US rate hike dragged the key equity markets lower. The Sensex lost 65.94 points, or 0.26 percent, while the Nifty dropped 18 points, or 0.24 percent.
The sentiments on Wednesday reflected the global cues emanating from developments the previous day.