Indian shares open strong after previous week’s losses

New Delhi, Nov 30 ( Indian equities opened on a positive note Monday, after some major losses during the week before on account of the turmoil in the global bourses because of the debt woes of Dubai World.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 16,655.75 points, against Friday’s close at 16,632.01 points, and was ruling at 16,894.03 points, some 10 minutes into trading.

At this level, the index was up 262.02 points, or 1.58 percent.

Investors keenly awaited the government release of data on the country’s gross domestic product (GDP) for the second quarter of the current fiscal, which will give a clear signal on the extent of recovery in the Indian economy.

The benchmark index had ended with a loss of 222.92 points, or 1.32 percent, Friday, while the loss over the week amounted to 548.17 points, or 3.19 percent, data with the exchange showed.

At the broader National Stock Exchange (NSE), the story was similar with the S&P CNX Nifty ruling above the psychologically-important level of 5,020.95 points, as against the previous close at 4,941.75, to register a gain of 79.2 points, or 1.60 percent.