Key Indian Equity Market Indices Open Higher

Thursday, March 16, 2017
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MUMBAI: After the US Federal Reserve hiked its benchmark interest rate a quarter point for the second time in three months, the Indian equity markets reacted positively and the key indices opened higher on Thursday.

The Sensitive Index (Sensex) of the BSE, which had closed at 29,398.11 points on Wednesday, opened higher at 29, 482.83 points. Minutes into trading, it was quoting at 29,568.03 points, up by 169.12 points, or 0.53 pct.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,084.80 points, was quoting at 9,138.85 points, up by 54.05 points or 0.59 pct.

On Wednesday, heavy selling pressure in IT and Teck (technology, media and entertainment) stocks, coupled with disappointing macro-economic data dragged the Indian equity markets lower.

Besides, investors remained cautious ahead of the US Federal Open Market Committee's (FOMC) meet on whether to raise interest rates, and India's Goods and Services Tax (GST) Council meet on Thursday.

The Sensex was down by 44.52 points or 0.15 pct at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 29,500.08 points and a low of 29,358.91 points. The Nifty, too was down by 2.20 points or 0.02 pct.

On Thursday, Asian indices were showing a positive trend except Japan's Nikkei 225 which is trading in red. Hang Seng was up by 1.11 pct while South Korea's Kospi was in green, up by 0.51 pct. China's Shanghai Composite index was quoting in green, up by 0.63 pct.

On a positive note, Nasdaq closed in green, up by 0.73 pct while FTSE 100 was also up by 0.15 pct at the closing on Wednesday.

Read Also:
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Source: IANS
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