Key Indian equity market indices open flat on Friday

Mumbai, April 8 (IANS) Key Indian stock market indices opened flat on Friday in line with global cues where Asian markets were seen under pressure.

The sensitive index (Sensex) of the BSE, which had closed at 24,685.42 points on Thursday, opened at 24,665.80 points.

Minutes after, it was ruling at 24,694.90 points, marginally up 9.48 points, or 0.04 percent.

At the National Stock Exchange (NSE), the 50-share Nifty that has ended at 7,546.45 in the previous session, opened on Friday at 7,542.35 points. Subsequently, it was trading at 7,543.80 points, down just 2.65 points, or 0.04 percent.

On Thursday, the markets slid on account of the caution ahead of the quarterly results season, along with relentless selling by foreign funds. The Sensex shed 215.21 points, or 0.86 percent, while the Nifty was down 68 points, or 0.89 percent.

In the other Asian markets the gains made were short lived. In the trades on Friday, Australia’s S&P/ASX 200, China’s Shanghai Composite and Shenzhen Composite, Hong Kong’s Hang Seng and Japan’s Topix and Nikkei were all trading lower.

“US markets moved sharply lower over the course of the trading day on Thursday, more than offsetting the strength seen in the previous session,” Angel Broking said in an analysis, ahead of the opening bell for Indian bourses.

“The sell-off on Wall Street was mainly due to concerns the outlook for global growth, which came amid a jump in the value of the Japanese yen versus the US dollar,” the brokerage said, adding European stocks also slid as optimism over rising oil prices was overshadowed by concerns over global growth.

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