Key Indian equity market indices open higher

Mumbai March 16 (IANS) 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 per cent.

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 per cent.

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 per cent 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 per cent.

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 per cent while South Korea s Kospi was in green up by 0.51 per cent. China s Shanghai Composite index was quoting in green up by 0.63 per cent.

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

--IANS
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