Indian equities up ahead of the expiry of futures contracts

September 24th, 2008 - 1:29 pm ICT by IANS  

SensexMumbai, Sep 24 (IANS) Indian equities moved up Wednesday, a day ahead of the expiry of futures contracts, even as the mood remained cautious on account of the turmoil in the global financial system and doubts over the US being able to push through a $700 billion bailout package.Trading began with the benchmark sensitive index (Sensex) opening higher at 13,630.54 points, over the previous close at 13,570.31 points, and surging soon to 13,757.71 points.

A little over one-and-a-half hours later, the 30-share index was ruling at 13,744.48 points, with a gain of 174.17 points, or 1.28 percent, over the previous close, with most of the sector specific indices also quoting in the positive territory.

The broader CNX S&P Nifty of the National Stock Exchange was also up 1.16 percent at 4,174.95 points, data available with the exchange showed.

The markets had closed in the red Tuesday on concerns that the US bailout plan may not help the Indian economy, and trading was lacklustre.

The Sensex had, accordingly, finished at 13,570.31 points, down 424.65 points or 3.03 percent from its previous close at 13,994.96 points.

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