By IANS
New Delhi : Indian equities opened strong for the second successive day Thursday as sentiments turned positive on account of US interest rate cuts and pep talk by authorities on the strong fundamentals of the Indian economy.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher by 326.91 points at 17,920.98 points, against the previous day’s close at 17,594.07 points and rose higher to 18,096.31 points within minutes.
The index, however, shed some ground subsequently at 18,027.05, to log a gain of 432.98 points, or 2.46 percent, still ruling above the psychologically important level of 18,000 points.
But for the sector-specific index for consumer durables shares, all the remaining 12 indices were ruling in the positive territory, with the index for realty scrips leading the pack with a gain of 3.70 percent.
Bringing cheer to investors, the 30-share barometer index of the Mumbai bourse had closed Wednesday with a gain of 5.17 percent, or 864.13 points, over the previous day’s close at 16,729.94 points.
The positive turnaround was on account of the US Federal Reserve delivering a surprise interest rate cut of 75 basis points early Tuesday, which shored up market confidence across the globe, including India.