Indian equities soar, following US markets

October 31st, 2008 - 12:20 pm ICT by IANS  

SensexMumbai, Oct 31 (IANS) Indian equities opened higher Friday and soared further on the back of a sharp upswing in the US markets a day earlier following the cuts in interest rates by the US Federal Reserve.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened significantly higher at 9,361.66 points, against the previous close at 9,044.51 points, and soon surged ahead to 9,802.76 points.

Some 45 minutes into trading, the key index was ruling at 9,736.40 points, with a gain of 691.89 points, or 7.65 percent, over the previous close.

The situation was no different at the National Stock Exchange (NSE) where its broader S&P CNX Nifty index was ruling at 2,888.85 points, against the previous close at 2,697.05 points, with a gain of 7.11 percent.

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