Key Indian equity market indices open flat

Mumbai: Taking a cue from global markets, the key Indian equity market indices opened flat on Thursday.

The Sensitive Index (Sensex) of the BSE, which had closed at 28,926.36 points on Wednesday, opened higher at 28,929.46.

Minutes into trading, it was quoting at 28,899.26 points, down 27.10 points, or 0.09 percent.

At the National Stock Exchange (NSE), the broader 51-scrip Nify, which had closed at 8,917.95 points, was trading at 8,915.50 points, down 2.45 points or 0.03 per cent.

On Wednesday, the Sensex was down 51.66 points, or 0.18 per cent at the closing.

In the day’s trade, the barometer 30-scrip sensitive index touched a high of 29,067.84 points and a low of 28,911.31 points.

The Nifty too fell by 25.05 points or 0.28 per cent.

Profit booking subdued the Indian equity markets on Wednesday, as both the key indices closed the day’s trade on a flat note.

Heavy selling pressure was witnessed in consumer durables, oil and gas, and finance stocks.

On Friday, Asian shares were showing a mixed trend as the key indicator of the US economic health, the Beige Book, showed moderate wage growth in coming months.

Japan’s Nikkei 225 was trading in red, down 0.24 per cent, Hang Seng up by 0.29 per cent while South Korea’s Kospi was also down by 0.31 per cent.

Labour market in the US was close to full-employment range but wage pressures have not been picked up.

If wages move up, inflation is likely to inch up. In such situation, the Federal Reserve may intervene to tame inflation.

Overnight, the US and European markets remained flat as Nasdaq closed in green, up by 0.15 per cent and FTSE 100 was up 0.30 per cent.