Equities open on positive note, post modest gains

December 10th, 2008 - 1:00 pm ICT by IANS  

SensexMumbai, Dec 10 (IANS) Indian equities markets opened a little better than their previous close Monday as a key index climbed 1.82 percent or 167 points.Two hours into trading, the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) continued its rise following the announcement of the fiscal stimulus package last week.

The broader-based 50-share S&P CNX Nifty of the National Stock Exchange (NSE) did marginally better after the opening with a gain of 58 points or 2.11 percent.

The BSE midcap index was, however, slower to rise with only a marginal increase of 0.65 percent or 18.87 points over the close on Monday.

The BSE smallcap index did almost similar with a rise of only 0.5 percent or 16.65 points.

Of the 13 sectoral indices, only consumer durables showed a slide with a fall of 0.14 percent or 2.42 points.

Overnight US markets closed in the red with a key index of the New York Stock Exchange finishing 2.08 percent lower. The Nasdaq index closed 1.55 percent lower than its previous close Monday.

Asian markets were, however, on the upswing with the Nikkei, a key index of the Tokyo Stock Exchange ruling 3.13 percent higher while the Hang Seng, key index of the Hong Kong Stock Exchange continued its good show by posting gains of 3.56 percent.

The underlying sentiment in the Indian markets is positive and are currently holding firm, analysts said.

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