Indian market opens higher, GIFT Nifty futures 24,262, investors cautious
Business
After two days of losses, including a sudden flash crash on Thursday, the Indian stock market opened higher on Friday.
Early numbers showed GIFT Nifty futures up at 24,262, pointing to a positive start for the day.
Still, investors are playing it safe with recent market swings and a speech by Federal Reserve Chair Kevin Warsh coming up.
Twenty-minute closing auction raises liquidity concerns
During Thursday's new 20-minute closing auction, the Sensex suddenly dropped 2.9% when a major stock hit its lower limit.
It quickly bounced back to close just 0.7% down, but the incident got people worried about how thin liquidity this new auction system really is.
SEBI Chairman Tuhin Kanta Pandey said the system is working, and brokers and other stakeholders will help increase participation.