Key Indian equity indices open in red

Mumbai March 1 (IANS) Taking a cue from global markets the key Indian equity market indices on Thursday opened lower after the fiscal deficit data reached at 113.7 per cent of the full year s target.

The market however started cheering as the GDP and Eight Core Industries (ECI) data showed signs of economic recovery.

The Sensitive Index (Sensex) of the BSE which had closed at 34 184.04 points on Wednesday opened lower at 34 141.22 points.

Minutes into trading it was quoting at 34 236.23 points up by 52.19 points or 0.15 per cent.

At the National Stock Exchange (NSE) the broader 51-scrip Nifty which had closed at 10 492.85 points on Wednesday was quoting at 10 515.65 points up by 22.80 points or 0.22 per cent.

Global cues -- especially the prospects of higher interest rates in the US -- along with a rise in fiscal deficit subdued the Indian equity markets on Wednesday.

Market observers said the domestic equity indices mimicked their Asian peers which traded in the red following US Federal Reserve Chairman Jerome Powell s comments on the rate hike trajectory.

The Sensex was down by 162.35 points or 0.47 per cent at the Wednesday s closing. In the day s trade the barometer 30-scrip sensitive index had touched a high of 34 302.74 points and a low of 34 076.45 points. The Nifty too was down by 61.45 points or 0.58 per cent.

On Thursday Asian indices were mostly showing a mixed trend. Japan s Nikkei 225 was trading in red down by 1.37 per cent Hang Seng up by 0.27 per cent while South Korea s Kospi was also down by 1.19 per cent. China s Shanghai Composite index was quoting in green up by 0.47 per cent.

Nasdaq closed in red down by 0.79 per cent while FTSE 100 was also down by 0.70 per cent at the closing on Wednesday.

--IANS
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