Key Indian stock indices soar after previous day profit-taking
Mumbai: In line with positive global cues, notably from Asia, key Indian equity market indices were in an upswing on Friday, after a bout of profit-taking the day before had arrested a six-day gaining streak.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened decisively higher at 26,974.92 points, against the previous close at 26,845.81 points. In a matter of 15-minutes, it had breached the 27,000-point mark, soaring to an intra-day high of 27,179.30.
An hour into trading, the 30-share index was ruling at 27,170.14 points, with a gain of 324.33 points, or 1.21 percent. At the National Stock Exchange, the 50-share Nifty was quoting at 8,220.50 points, with a gain of 91.15 points, or 1.12 percent.
Key Indian equity market indices, that had rallied for six straight sessions till Wednesday, receded the following day, due to uncertainty over the upcoming Bank of England’s rate hike decision, as also profit-booking.
“Investors also awaited minutes from the US Fed’s September meeting and speeches from several officials scheduled later in the day for further clues on the outlook for the policy,” Angel broking said in its pre-open analysis.
But Friday has been different thus far.