Key Indian equity indices open flat on Wednesday

Mumbai, March 16 (IANS) After losing over 1 percent in the previous session, two top Indian equity indices opened flat on Wednesday ahead of another crucial meeting of the US Federal Reserve later in the evening.

The 30-share sensitive index (Sensex) of the BSE, which closed on Tuesday at 24,551.17 points, opened the next day at 24,537.61 points. Minutes after, it was trading at 24,490.63 points with a loss of 60.54 points or 0.25 percent.

At the National Stock Exchange, the 50-share Nifty which had closed the day before at 7,460.60 points, opened at 7,457.05 points. It was then quoting at 7,450.80, down 9.80 points or 0.13 percent.

As many as 17 of the 30 Sensex stocks were in the red, 12 advanced and one remained unchanged. On the NSE, the number of Nifty stocks in the decline and those that gained were evenly matched.

“The US stocks closed mostly lower on Tuesday, weighed by fall in the oil prices and a string of lackluster economic data released, ahead of the US Fed’s important decision on interest rates,” Angel Broking said in an analysis, ahead of the opening bell for Indian markets.

“Key European indices also closed down between 0.5 to 1 percent as investors played it safe ahead of the Fed meeting,” said the brokerage adding the markets were anticipating the British budget, to be presented on Wednesday to raise taxes.

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