Markets open in green
Mumbai, May 17 Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher.
The Sensitive Index (Sensex) of the BSE, which had closed at 35,387.88 points on Wednesday, opened higher at 35,483.62 points.
Minutes into trading, it was quoting at 34,432.17 points, up by 44.29 points, or 0.13 per cent.
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,741.10 points on Wednesday, was quoting at 10,773.50 points, up by 32.40 points or 0.30 per cent.
Uncertainty over the Karnataka government formation, along with high crude oil prices and outflow of foreign funds dragged the key Indian equity indices in the red on Wednesday.
On Tuesday, none of the major political parties were able to achieve a clear majority in the Karnataka assembly elections, leading to political uncertainty.
However, Karnataka Governor Vajubhai Vala on Wednesday invited Bharatiya Janata Party’s legislature party leader B.S. Yeddyurappa to form the government and take oath as the Chief Minister of the state on Thursday.
According to market analysts, heavy selling pressure on Wednesday was witnessed in banking, oil and gas and automobile stocks.
The Sensex was down by 156.06 points or 0.44 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 35,543.89 points and a low of 35,241.63 points.
The Nifty, too, was down by 60.75 points or 0.56 per cent.
On Thursday, Asian indices were mostly showing a positive trend. Japan’s Nikkei 225 was quoting in green, up by 0.53 per cent while Hang Seng was up by 0.01 per cent, South Korea’s Kospi was up by 0.04 per cent. China’s Shanghai Composite index was trading in red, down by 0.28 per cent.
Nasdaq closed in green, up by 0.63 per cent while FTSE 100 was also up by 0.15 per cent at the closing on Wednesday.