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Published: Fri, September 08, 2017
Economy | By Melissa Porter

Markets open higher; Nifty up by 30 pts

Markets open higher; Nifty up by 30 pts

By end of trading session on Wednesday, the BSE Sensex closed 147.58 point down at 31661.97 while NSE Nifty ended 36 points south of 9916.20.

The Nifty50 fell by 61.55 points, or 0.62 per cent, to close at 9,912.85 points, while the Sensex witnessed a fall of over 300-points during the day's trade to close at 31,702.25 points - down 189.98 points or 0.60 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,916.20 points, was quoting at 9,946.10 points, up by 29.90 points or 0.30 percent.

Market breadth was positive with 1,285 advances against 827 declines.

The BSE Sensex and Nifty turned flat during post noon trade on Thursday as energy shares led by Reliance Industries, which turned ex-bonus today, gave up early gains. "Metal and mining stocks were in demand while shares of index heavyweight and cigarette major ITC dropped", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

Apart from the Shanghai SE Corporate Index, which closed nearly flat at 1.07 points up, all other Asian markets fell sharply.

On the currency front, the Indian rupee strengthened by five paise to 64.05 against the USA dollar from its previous close at 64.10.

The S&P BSE Healthcare Index added 0.7 percent while the S&P BSE Auto index was up 0.9 percent.

On the other hand Tata Motors (1.53%), NTPC (1.32%), Housing Development Finance Corporation (0.81%), Coal India (0.74%), and ICICI Bank (0.47%) were the biggest losers in the Sensex. The US benchmark index Dow Jones Industrial Average rose 0.25% to 21,808.6 points after the American lawmakers agreed to extend the government debt limit which eliminated fears of a government shutdown.

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