Key Indian equity market indices open in red

Mumbai: The key Indian equity market indices opened flat on Thursday after the Federal Open Market Committee (FOMC) of the US Federal Reserve on Wednesday kept its short term interest rate intact for now.

The Sensitive Index (Sensex) of the BSE, which had closed at 27,527.22 points on Wednesday, opened lower at 27,518.06 points and minutes into trading, it was quoting at 27,473.23 points, down 53.99 points, or 0.20 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,514 points, was trading at 8,494.80 points, down 19.20 points or 0.23 per cent.

On Wednesday, weak global cues, such as uncertainty over US presidential elections and the FOMC decision, dragged the Indian equity markets down. Both the indices witnessed intense selling pressure and closed the day’s trade with losses of more than one per cent each.

The barometer 30-scrip sensitive index (Sensex) dipped by 349.39 points or, 1.25 per cent at the closing. In the day’s trade, the index touched a high of 27,679.32 points and a low of 27,500.81 points. The Nifty, was also down by 112.25 points, or 1.30 per cent.

On Thursday, Asian indices were showing a mixed trend after the FOMC on Wednesday night, kept its short term interest rate unchanged but indicated for a possible rate hike in December on the back of economic recovery.

Hang Seng was down by 0.34 per cent while South Korea’s Kospi was also trading in red, down by 0.20 per cent. China’s Shanghai Composite index was also quoting in green, up by 0.42 per cent.

Overnight, the Nasdaq, on Wednesday, fell by 0.94 per cent while FTSE was down by 1.05 per cent.