Markets open higher in early trade
05/10/2016 09:28
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The key domestic benchmark indices opened higher in the morning trading session as interest rate cut by the Reserve Bank and World Bank optimism about recovering Indian economy increased risk taking apetite.
On Tuesday, the Reserve Bank of India (RBI) cut repo rate by 25 basis points to 6.25 per cent from the current 6.5 per cent. The move brought cheer to Dalal Street that had succumbed to panic and fear in recent days.
At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28409.53 up by 74.98 points or by 0.26 per cent, while the NSE Nifty was at 8788.30 points, trading higher by 19.15 points or by 0.22 per cent.
On the global front, Asian stocks were trading higher today as rebound in oil prices bolstered sentiment. US stocks closed lower in the previous trading session amid concerns about the ECB tightening liquidity and rising speculation in the market that a Federal Reserve might hike interest-rate this year.
05/10/2016 09:28
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On Tuesday, the Reserve Bank of India (RBI) cut repo rate by 25 basis points to 6.25 per cent from the current 6.5 per cent. The move brought cheer to Dalal Street that had succumbed to panic and fear in recent days.
At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28409.53 up by 74.98 points or by 0.26 per cent, while the NSE Nifty was at 8788.30 points, trading higher by 19.15 points or by 0.22 per cent.
On the global front, Asian stocks were trading higher today as rebound in oil prices bolstered sentiment. US stocks closed lower in the previous trading session amid concerns about the ECB tightening liquidity and rising speculation in the market that a Federal Reserve might hike interest-rate this year.
