Key Indian equity indices open higher on Wednesday

Key Indian equity market indices opened slightly higher on Wednesday in line with global peers, notably on account of signals the previous evening from the US Federal Reserve, and were trading flat minutes thereafter.

The sensitive index (Sensex) of the BSE, which had closed at 27,009.67 on Tuesday, opened higher at 27,085.24. Minutes into trading, it was quoting at 27,056.47 points, up 46.80 points, or 0.17 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nify, which had closed at 8,266.45 points, opened on Wednesday at 8,285.50 points. Subsequently, it was ruling at 8,274.60 points, with a gain of 8.15 points, or 0.10 per cent.

The indices had surged on Tuesday after investors found the Reserve Bank of India's monetary policy update to be accommodative, even though Governor Rahguram Rajan had left all key policy rates and reserve rations untouched.

The Sensex had ended with a gain up 232.22 points, or 0.87 per cent, while the Nifty ended 65.40 points, or 0.80 per cent higher -- both of them closing above the psychologically-important levels of 27,000 points and 8,200 points, respectively.

Analysts said the markets were also swayed by global cues.

"The US stocks closed higher on Tuesday with energy stock leading as oil rose after comments from the Fed remained positive on economy, while omitting specific reference to the timing of a rate hike," Angel Broking said in a report.

"UK stocks climbed up, led by gains seen across mining shares, while the pound touched three-week low after polls showed the 'Brexit' campaign (for Britain to exit the EU) gaining ground," the brokerage added.

--IANS

ap/py/