Global cues help key Indian equity indices open higher

Mumbai, Jan 22 (IANS) Key Indian equity market indices opened decisively higher on Friday, in cue with other Asian peers, after they fell to their lowest levels since May last year on the day before on poor buying interest and weakening rupee.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened the day at 24,122.06 points, against the previous close at 23,962.21 points.

Minutes after the trading bell, the key index was ruling at 24,156.64 points, with a gain of 194.43 points, or 0.81 percent.

At the National Stock Exchange (NSE), the Nifty was quoting at 7,337.50 points, up 60.70 points, or 0.83 percent.

On Monday, while the Sensex had ended 99.83 points, or 0.41 percent lower, the Nifty closed with a loss of 32.50 points, or 0.44 percent.

All the Asian markets were also on a re-bound mode. Japan’s Nikkei, Australia’s ASX 200, Hong Kong’s Hang Seng, and the Shanghai Composite all opened higher and were trading in the green. Even the oil benchmarks like Brent and Western Texas Intermediate were up nearly one percent.

“The US markets recovered on Thursday from their steep losses from the day before. US energy stocks climbed as oil prices bounced back from their worst trading session in the last four months and strong earnings from Verizon lifted the telecom stocks,” Angel Broking said.

“Blue chip stocks did better than the rest of the market,” the brokerage said in a pre-open analysis, adding the rebound in oil prices and positive comments by European Bank President Mario Draghi on stimulating the Eurozone helped the markets to end significantly higher.

“But sell-off in the Indian equity markets continued for the second consecutive session, with the Sensex closing below the psychological important 24,000-point mark for the first time since May 2014.”

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here