Indian markets trading higher, no reaction to CRR hikeApril 21st, 2008 - 12:52 pm ICT by admin
Mumbai, April 21 (IANS) The Indian equities market was trading higher in initial trade Monday, tracking strong Asian markets. The 30-share benchmark sensitive index of the Bombay Stock Exchange opened with a gain of 148.82 points at 16,611.41. Ten minutes into trade, the Sensex was trading at 16,705.61 with a gain of 224.41 points or 1.36 percent.
The market did not show any knee jerk reaction to the cash reserve ratio (CRR) hike by Reserve Bank of India last Thursday.
At the same time, the S&P Nifty of the National Stock Exchange was trading at 5034.10 points with a gain of 75.70 points compared to its previous close.
The market breadth was positive. On the BSE, 1,112 scrips advanced, 200 declined and 12 remained unchanged.
Wipro, TCS, HDFC, Bharti Airtel were the gainers at initial trade.
Asian markets were trading higher. Japan’s Nikkei rose 1.64 percent or 221.24 points at 13,697.69. Hong Kong’s Hang Seng gained 2.35 percent or 568.92 points at 24,766.70. Taiwan’s Taiwan Weighted advanced 0.45 percent or 40.74 points at 9,115.08. Singapore’s Straits Times was up 2.40 percent or 75.05 points at 3,199.92. South Korea’s Seoul Composite added 1.69 percent or 29.95 points at 1,801.85.