Mumbai, India (BBN) – The Nifty and the Sensex opened in the green and turned red in early trade on tepid Asian cues.
The Nifty opened 15 points up at 8,259, while the Sensex opened 102 points up at 26,861 before slipping, reports The Hindu Business Line.
At 9:40am., the 30-share BSE index Sensex was up 0.81 point or 0.00 per cent at 26,760.09 and the 50-share NSE index Nifty was up 2 points or 0.02 per cent at 8,245.80.
A report by SMC Global said: “Asian stocks edged higher on opening, helped by a strong closing on Wall Street on the back of strong economic data.’’
“US stocks ended at record highs fueled by optimism about plans to stimulate the economy with lower taxes and infrastructure spending followed by the latest US payrolls data indicated strong underlying wage growth, strengthening the case for more rate increases in 2017,” he added.
“US job growth misses estimates as wage growth accelerated, report released by the Labour Department showed that employment in the US rose less than anticipated in the month of December,” he also added.
“According to a report, non-farm payroll employment climbed by 156,000 jobs in December, while economists had expected an increase of about 175,000 jobs,” he again said.
All the broader and sectoral indices were trading flat. Volatility was high and the volatility index India Vix was quoting at 15.5950, up 4.57 per cent.