Key Indian equity market indices open flat

Mumbai, Aug 31 (IANS) Taking a cue from global markets, the key Indian equity market indices on Thursday opened flat.

The Sensitive Index (Sensex) of the BSE, which had closed at 31,646.46 points on Wednesday, opened higher at 31,685.44 points.

Minutes into trading, it was quoting at 31,627.50 points, down by 18.96 points, or 0.06 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,884.40 points, was quoting at 9,888.60 points, up by 4.20 points or 0.04 per cent.

The key indices on Wednesday surged on the back of positive global cues and healthy buying in metal, oil and gas, and banking stocks.

According to market observers, easing geo-political tension in East Asia and healthy buying in index heavyweights like Reliance Industries, Adani Ports, HDFC and Tata Steel aided the upward trajectory of the indices.

The Sensex was up by 258.07 points or 0.82 percent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 31,727.98 points and a low of 31,533.02 points. The Nifty too was up by 88.35 points or 0.90 per cent.

On Thursday, Asian indices were mostly showing a negative trend. Japan's Nikkei 225 was trading in green, up by 0.73 per cent. Hang Seng was down by 0.56 per cent while South Korea's Kospi was also down by 0.37 per cent.

China's Shanghai Composite index was quoting in red, down by 0.63 per cent.

Nasdaq closed in green, up by 1.04 per cent while FTSE 100 was also up 0.38 per cent at the closing on Wednesday.