Indian markets expected to catch up to global rally on Friday
Indian equities markets, which remained closed Thursday for the second day running, are Friday expected to play catch up to the rally witnessed in bourses across the world during these days.
The Indian markets were closed Wednesday for Eid-ul-Fitr and the next day on account of Ganesh Chaturthi even as other Asian markets rose for the fourth straight session on hopes of a stimulus by the US Federal Reserve to lift the world's largest economy.
The 30-scrip sensitive index (Sensex) of the BSE had closed Tuesday at 16,676.75 points, rising a whopping 827.92 points or 5.22 percent from its close on Friday at 15,848.83 points.
The Sensex had rallied 567 points Monday.The 50-scrip S&P CNX Nifty of the National Stock Exchange too moved up smartly, 253.2 points or 5.06 percent from its close Aug 26 at 4,747.8 points. It closed Tuesday at 5,001 points.
Asian markets were mostly trading higher Thursday, tracking gains of European and US markets and on hopes of a possible intervention from the US Federal Reserve.
The benchmark Japanese Nikkei was up 1.15 percent at 9,058.34 points, while Hong Kong's Hang Seng was trading 0.95 percent higher at 20,730.07 points.
Chinese stocks were, however, trading subdued. The Chinese Shanghai Composite index was ruling 0.09 percent down at 2,564.97 points.
European markets rose Wednesday, with benchmark indices posting gains between 2-3 percent amid increased speculation that the Federal Reserve was preparing a fresh round of monetary stimulus to help the world's largest economy recover and avoid a possible bout of recession.
