Equities open strong, key index breaches 9,000 mark

November 25th, 2008 - 12:16 pm ICT by IANS  

SensexMumbai, Nov 25 (IANS) Indian equities markets opened strong Tuesday on strong global cues and were in the green some 15 minutes into trading with a key index opening more than 250 points higher and staying in the green to again breach the psychologically important 9,000 mark.Some 15 minutes into trading, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was at 9,106.96, up 203.84 points or 2.29 percent from its previous close Monday at 8,903.12 points.

The broader-based 50-share S&P CNX Nifty of the National Stock Exchange (NSE) also opened strong and was ruling at 2769.50, up 61.25 points or 2.26 percent from its previous close Monday at 2708.25 points.

The BSE midcap was ruling at 2,948.74, up 46.45 points or 1.60 percent from its previous close Monday at 2,902.29 points.

The BSE smallcap was ruling at 3,406.67, up 42.71 points or 1.27 percent from its previous close at 3,363.96 points.

Overnight US markets had ended in the green with a key index of the New York Stock Exchange finishing with a 7.14 percent gain. The Nasdaq index too ended with a gain of 6.33 percent.

US markets were reacting to the $20 billion US government bail out plan for Citibank as well as president-elect Barack Obama’s hint that there will be another stimulus or spending plan of around $700 billion.

Asian markets were also up Tuesday with the Nikkei, the key index of the Tokyo Stock Exchange up 3.31 percent and the Hang Seng, key index of the Hong Kong Stock Exchange, up 3.68 percent.

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