Equities open higher, Sensex up 200 points


Mumbai : After shedding value for five successive trading sessions, Indian equities markets opened strong Wednesday and were in positive territory 15 minutes into trading, with a key index up nearly 200 points to once again breach the psychologically important 9,000 mark.

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Some 15 minutes into trading, the 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 9,132.09, up 194.89 points or 2.18 percent from its previous close Tuesday at 8,937.20 points.

The Sensex opened some 30 points higher at 8,970.67 points and continued to surge strongly on strong global cues.

Overnight, US markets finished in the green with a key index of the New York Stock Exchange up 0.79 percent. The Nasdaq index too finished 0.08 percent higher.

The broader-based 50 share S&P CNX Nifty of the National Stock Exchange (NSE) also showed a similar trend and after about 15 minutes of trading was ruling at 2,730.20, up 47.05 points or 1.75 percent from its previous close at 2,683.15 points.

The BSE midcap index was at 3,089.92, up 29.60 points or 0.97 percent from its previous close at 3,060.32 points.

The BSE smallcap index was at 3,578.37, up 19.71 points or 0.55 percent from its previous close at 3,558.66 points.

The markets had already fallen below the 9,000 mark so some bounce back was expected, analysts said, adding Finance Minister P. Chidambaram’s statement Tuesday that the global financial crisis will end soon also may have helped sentiments.

Other Asian markets, however, were in the red Wednesday morning with the Nikkei, the key index of the Tokyo Stock Exchange, down 1.52 percent and Hang Seng, the key index of the Hong Kong Stock Exchange ruling 0.17 percent lower than its previous close.