Seesaw trading in Indian equity markets

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Mumbai, Feb 16 (IANS) Key Indian equities market indices opened positive on Tuesday in line with global cues but soon lost ground and dipped into the negative territory. The rupee also lost some 15 paise and was trading at 68.22 to a US dollar.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) began at 23,688.61 points, higher by 134.49 points, or 0.57 percent, over the previous close at 23,554.12 points. An hour after, it was trading at 23,448.21 points, down 105.91 points, or 0.45 percent.

At the National Stock Exchange, too, the 50-share Nifty was trading at 7,130.85 points, lower by 32.10 points or 0.45 percent, after having opened higher at 7,201.25 points against the previous close at 7,162.95 points.

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In the other Asia-Pacific markets, the Shanghai Composite Index, Hong Kong’s Hang Seng, Taiwan’s Taiex, South Korea’s Kospi, Australia’s S&P/ASX 200, Singapore’s Straits Times Index and Nekkei all recorded gains on Tuesday.

While the US stock markets were closed on Monday for President’s Day holiday, the European shares rose on hopes of a stimulus from the European Central Bank. Back in India, while the Sensex ended higher by 568 points or 2.47 percent, the Nifty had ended higher by 182 points or 2.61 percent.

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