The key indices on Friday opened marginally higher over lack of any major global cue. The S&P BSE Sensex was trading at 31,751, up 89 points while Nifty50 index was trading at 9,958 up 28 points.
The key indices on Friday opened marginally higher over lack of any major global cue. The S&P BSE Sensex was trading at 31,751, up 89 points while Nifty50 index was trading at 9,958 up 28 points.
Asian shares edged up on Friday as investors kept a wary eye on another U.S. storm, while the dollar skidded after European Central Bank chief Mario Draghi suggested the bank may begin tapering its massive stimulus programme this autumn.
In domestic market, however, Investors would continue to remain under pressure as Sebi on Thursday imposed Rs 2,423 crore fine on PACL Ltd and its four directors for illegal fund mobilisation through various schemes that were used by the group to garner over Rs 49,000 crore from the public.
While the group, which had collected money in the name of real estate projects among other schemes, was asked by Sebi nearly three years ago to refund Rs 49,100 crore to the investors, the regulator has passed a fresh order to impose a monetary penalty for violation of Sebis Prevention of Fraudulent and Unfair Trade Practices Regulations.
Meanwhile, Wall Street ended little changed on Thursday, as investors continued to tracking Hurricane Irma, which was bearing down on Florida on the heels of devastation in Texas caused by Hurricane Harvey.
Economists said Harvey could weigh on U.S. economic growth for the third quarter, though they did not this to delay the U.S. Federal Reserve's announcement of a plan at its meeting this month to start trimming its $4.2 trillion debt portfolio.
The storm caused U.S. initial jobless claims to spike to a two-year high, despite an underlying strength in the labour market.
(With inputs from Agencies)
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