Mumbai, May 30 (IANS): Despite a muted trend in global markets, the key Indian equity market indices on Thursday opened higher ahead of Prime Minister-elect Narendra Modi's swearing in ceremony later in the evening.

The Sensitive Index (Sensex) of the BSE, which had closed at 39,502.05 points on Wednesday, opened higher at 39,580.28 points.

Minutes into trading, it was quoting at 39,600.35 points, up by 98.30 points, or 0.25 per cent.

At the National Stock Exchange (NSE), the broader Nifty 50, which had closed at 11,861.10 points on Wednesday, was quoting at 11,875.35 points, up by 14.25 points or 0.12 per cent.

As many as 32 stocks advanced in the Nifty 50 index while 18 stocks declined. In BSE Sensex, 21 stocks including NTPC, TCS were trading in green while 9 stocks including Tata Steel, ONGC were trading in red at 9.21 a.m.

Both the indices had closed in red on Wednesday, ahead of the expiry of the May series of futures and options contracts.

The Sensex was down by 247.68 points or 0.62 percent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 39,767.93 points and a low of 39,420.50 points. The Nifty, too was down by 67.65 points or 0.57 per cent.

On Thursday, Asian indices were showing a mixed trend. Japan's Nikkei 225 was quoting in red, down by 0.62 per cent, Hang Seng was also down by 0.62 per cent.

South Korea's Kospi was quoting in green, up by 0.31 per cent. China's Shanghai Composite was trading in red, down by 0.83 per cent.

Overnight, Nasdaq closed in red, down by 0.79 per cent while FTSE was also down by 1.15 per cent at the closing on Wednesday.