Key Indian equity indices open flat after buoyant Monday

Mumbai, Dec 22 (IANS) Key Indian equity indices opened flat on Tuesday in line with their Asian Peers, after rising close to one percent a day before due to the introduction of some reform-oriented bills in the parliament, notably one for a new bankruptcy code.

Against the previous close at 25,735.90 points, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 25,731.07.

Minutes thereafter, it was ruling at 25,693.77 points, with a loss of 42.13 points, or 0.16 percent.

At the National Stock Exchange (NSE), the Nifty was ruling at 7,817.00 points, down 17.45 points, or 0.22 percent.

On Monday, the mood was positive in the US markets. “US markets traded with a positive bias and managed to close marginally higher led by bargain hunting after a decline in two consecutive sessions. Volumes were however low ahead of the Christmas holidays,” said Angel Broking in an analysis ahead of market opening.

“But European markets closed down as Spanish stocks came under pressure and lower oil prices continued to unnerve investors. Stocks in Spain were hit as no party — neither the conservatives nor left-wing — won a clear majority in Sunday’s elections,” the brokerage said.

“Indian shares rose sharply as lower crude prices raised hopes of lower inflation and with the government’s decision to table the bankruptcy bill in the parliament. Crude prices fell to their lowest level since July 2004 on worries over a supply glut and higher production in the US and elsewhere.”

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