Key Indian equity indices trade in positive territory

Mumbai, Jan 8 (IANS) After ending in the red during successsive trading days due mainly to the rout in China, key Indian stock market indices were trading in the positive territory on Friday.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 24,969.02, against the previous close at 24,851.83 points. Two hours into trading it was ruling at 24,959.87 points, with a gain of 108.04 points, or 0.43 percent.

At the National Stock Exchange, the Nifty was ruling at 7,598.40 points, with a gain of 30.10 points, or 0.40 percent.

On Thursday, the sell-off by panicked investors had dragged the barometer 30-scrip Sensex to a new 52-week low during the intra-day trade.

In fact, low interest among foreign investors, coupled with softening of commodity prices and low earnings, has weighed heavy on many well-known stocks of the Indian equity markets. The scrips of as many as 123 companies fell to their 52-week lows since the start of 2016.

“The US markets extended the downfall seen over the past several sessions as sell-off in Chinese markets continued to haunt global markets. The lower Yuan fix resulted in

trading being stopped for the second time in four days,” Angel Broking said in an analysis.

“European markets followed the Asian peers and posted losses as China’s Yuan depreciation led to sell off in Chinese markets. But the markets ended their session lows after news broke that China had suspended the circuit breakers to halt panic and allow a full session of trading.”

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