Published: Thu, October 12, 2017
Business | By Max Garcia

Opening Bell: Positive Forecast; Sensex up 140 points

The wider Nifty50 of the National Stock Exchange (NSE) once again slipped below the psychologically important 10,000-mark - which was reclaimed on Tuesday - to close lower by 32.15 points, or 0.32 per cent, at 9,984.80 points. The Sensex had gained 332.38 points in the previous three sessions. Both Sensex and Nifty gained above 1 per cent. On the other hand, banking index was down 0.31 per cent and consumer durables 0.02 per cent. Australian stocks jumped to one-and-a-half month highs while South Korea's KOSPI added 0.6 per cent to within a whisker of record peaks.

Indian shares opened modestly higher on Thursday after the Union Cabinet approved revision of pay scales for 7.51 lakh teachers in universities and the economic advisory council, formed by Prime Minister Narendra Modi last month, put to rest talks of fiscal stimulus to boost growth.

Japan's Nikkei rose 0.47 per cent while Hong Kong's Hang Seng moved up 0.17 per cent in early trade today.

"September quarter earnings season is expected to be subdued due to the impact of the Goods and Services Tax (GST)".

Midcap and smallcap shares were seen outperforming the broader indices in morning deals - up between 0.6 per cent and 0.75 per cent.

The Sensex of the BSE, which opened at 31,975.59 points, was trading at 32,009.63 points (at 1.23 p.m.) - higher by 85.22 points or 0.27 per cent from the previous day's close at 31,924.41 points.

At 10:33, 33 stocks in the 50-scrip Nifty were trading in the positive zone.

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