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Markets show early gains in opening trade

The key Indian equity market indices on Thursday witnessed early gains over positive global cues.

The Sensex, which had closed at 31,833.99 points on Wednesday, opened higher at 31,887.47 points.

During the early hours it was trading at 31,919.78 points, up by 85.79 points, or 0.27 per cent.

NSE on the other hand was trading at at 10,011.20 points, up by 26.40 points or 0.26 per cent.

Breaking a three-day gaining streak, key Indian equity indices closed on a lower note on Wednesday as investors booked profits ahead of the release of important macro-data as well as quarterly earnings results of corporates, according to market observers.

The rupee traded a shade lower at 65.15 against the dollar due to mild demand for the greenback from importers and banks despite the latter’s weakness overseas.

The US Fed minutes signalled rate hike eventuality despite low inflation levels.

The rupee resumed marginally higher at 65.13 as against yesterday’s closing level of 65.14. It later slipped to 65.15 at 1020 hours.

“Higher local equities is restricting the rupee volatility,” a forex trader said.

On Thursday, Asian indices were mostly showing a positive trend. Japan’s Nikkei 225 was trading in green, up by 0.50 per cent, Hang Seng up by 0.20 per cent while South Korea’s Kospi was also up by 0.35 per cent. China’s Shanghai Composite index was quoting in red, down by 0.18 per cent.

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