Key Indian equity indices open flat

Mumbai, Feb 8 (IANS) Key Indian equity indices opened flat on Monday amid little direction from the Asian peers.

The Japanese and Australian shares were down while the markets in Singapore, Hong Kong and China were closed for the lunar New Year holiday.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 24,637.41 points, against the previous close at 24,616.97 points.

Minutes after, it was quoting at 24,601.37 points, with a small loss of 15.60 points, or 0.06 percent.

At the National Stock exchange, the Nifty was trading at 7,478.95 points, also with a small loss of 10.15 points, or 0.14 percent over Friday’s close at 7,489.10 points.

On Friday, the 30-share Sensex had gained 279 points or 1.14 percent and the broader 50-scrip Nifty had ended in the positive territory, edging up by 85.10 points, or 1.15 percent.

The US markets, too, had ended in the red due to poor jobs data, Angel Broking said in an analysis, adding: “With the steep drop on the day, the tech-heavy Nasdaq fell to its lowest closing level in well over a year.”

European markets also ended mixed due to the weakness in the US employment report for January, with investors also confronted by a large number of corporate earnings showing mixed results, the brokerage added.

“Indian shares rose sharply to extend gains for the second consecutive session as crude prices steadied and weak US data reinforced views that the Federal Reserve would need to delay further rate hikes.”

Some developments, like upbeat figures on foreign direct investment, also helped the key indices inch up, even as the rupee lost ground.

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