Equity indices turn green, Sensex nears 39,900 (Lead)

The key Indian equity indices turned green on Wednesday after an initial subdued trade, with the BSE Sensex gaining over 300 points.

The Sensex traded near the 39,900 mark and the Nifty50 on the National Stock Exchange was trading above 11,700.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The markets have opened on a flat note. However, it is still expected to achieve a target of 11,750-11,800. If it can sustain those levels, we can expect a new target of 12,000 during the course of this month. A strong support has been formed around the 11,300 level.”

At 10.29 p.m., the Sensex was trading at 39,897.85, higher 323.28 points or 0.82 per cent from the previous close of 39,574.57.

It opened at 39,633.19, and has so far touched an intra-day high of 39,903.73 and a low of 39,450.82 points.

The Nifty50 was trading at 11,722.80, higher by 60.40 points or 0.52 per cent from the previous close.