Economy Update : Equity indices trade in green; Sensex up over 700 points

Insight Online News

Mumbai, Oct 4 : India’s key equity indices, the S&P BSE Sensex and NSE Nifty50, traded in the green during Monday’s morning trade session.

Accordingly, the two key indices had a gap up opening and continued to march higher.

Sector wise, Telecom, Healthcare, IT and Banks gained the most, whereas Metals lost the most.

Consequently, the 30-scrip sensitive index traded at 59,513.83 points around 10.50 a.m., up 748.25 points or 1.27 per cent.

The Sensex opened at 59,143 points from its previous close of 58,765.58 points.

Besides, the NSE Nifty50 traded at 17,743.95 points, up by 211.90 points or 1.21 per cent.

It opened at 17,615.55 points from its previous close of 17,532.05 points.

“Asian markets continued to show mixed signs and India is one of the outperformers today so far,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

“Some consolidation or minor corrections later in the day can be expected in Nifty.”

According to Gaurav Garg, Head of Research, CapitalVia Global Research: “Our research suggests that 17,700 will act as probable resistance points while support may come around the level of 17,450,”

“If the market breaches the level of 17,700, we can expect the market to trade till the level of 17,800-17,900.”

IANS / AGENCY

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