Indian equities open higher despite weak Asian cues

Despite weak global cues, notably in the Asian bourses, key Indian equity indices opened on a positive note on Monday, expecting some good corporate results for the second quarter of this financial year.

The sensitive index (Sensex) of the Bombay Stock Exchange, which had closed at 27,214.60 points on Friday, opened at 27,305.62 points. Some 20 minutes into trading it was quoting at 27,284.93 points, with a gain of 70.33 points, or 0.26 percent.

Among the 30 sensex shares, the advances and declines were equally matched.

At the National Stock Exchange (NSE), the broader 50-scrip Nifty was quoting at 8,247.65 points, with a gain of 9.50 points, or 0.12 percent. Only 19 scrips managed to advance, while 31 others were in the negative territory.

Both these bellwether indices had made gains for the third straight week ended last Friday, ever since the country's central bank eased key lending rates by 50 basis points on September 29.