Indian equity indices range bound in early trades

Mumbai, Jan 6 (IANS) In line with global cues, key Indian equity market indices were trading flat on Wednesday after opening slightly higher over the previous day’s close.

The sensitive index (Sensex) of the Bombay Stock Exchange opened 47.89 points up at 25,628.23 points, against the previous close at 25,580.34 points. After an hour into trading the index was ruling at 25,582.67 points, with a marginal gain of 2.33 points, or 0.01 percent.

At the National Stock Exchange (NSE), the Nifty was ruling at 7,786.20 points with a small gain of 1.55 points, at 0.02 percent.

“The US stocks traded on a mixed note on Tuesday, following the sell-off seen in the previous session post slide in Chinese markets. The markets lacked direction as traders expressed uncertainty about the outlook,” Angel Broking said in an analysis ahead of the market opening.

“Majority of European markets closed on a positive note. Investors remained cautious and markets fluctuated despite of better than expected labour data out of Germany and construction sector data in the UK,” it said.

On Tuesday, the Indian markets gave up early gains due to negative global cues, as also disappointing macro-data and selling pressure by foreign investors. This led to key indices end on a slightly negative note. On Monday, they had plunged to a new four-month low.

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