Key Indian equity market indices open flat

Mumbai, April 13 (IANS) Taking a cue from global markets, the key Indian equity market indices on Thursday opened flat.

Ahead of fourth quarter results, the markets took a cautious approach.

The Sensitive Index (Sensex) of the BSE, which had closed at 29,643.48 points on Wednesday, opened lower at 29, 637.12 points.

Minutes into trading, it was quoting at 29,594.98 points, down by 48.50 points, or 0.16 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,203.45 points, was quoting at 9,158.70 points, down by 17.75 points or 0.19 per cent.

According to market observers, profit booking ahead of the fourth quarter results season and the upcoming macro-economic data could be attributed to the downfall in the Indian equity markets on Wednesday.

Rising geo-political tensions and volatile rupee movement against the US dollar eroding investors' appetite for risk taking, also adversely contributed the depression in the market.

The Sensex was down by 144.87 points or 0.49 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 29,838.82 points and a low of 29,549.74 points. The Nifty too was down by 33.55 points or 0.36 per cent.

On Thursday, Asian indices were showing a mixed trend. Japan's Nikkei 225 was trading in red, down by 1.13 per cent, Hang Seng down by 0.09 per cent while South Korea's Kospi was up by 0.38 per cent. China's Shanghai Composite index was quoting in green, up by 0.08 per cent.

Overnight, Nasdaq closed in red, down by 0.52 per cent while FTSE 100 also slipped down by 0.22 per cent at the closing on Wednesday.