From correspondents in Maharashtra, India, 01:03 PM IST

Indian equities opened on a positive note Wednesday, after logging one of its steepest gains in recent years during the traditional, hour-long Diwali-day trading, but soon plunged into the red.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 9,297.76 points against the previous close at 9,008.08 and was ruling marginally lower at 8,991.15 points some 45 minutes into trading.

The index had posted a gain of 498.52 points, or 5.9 percent, during the hour-long ceremonial trading on Diwali, which also marks the New Year for a section of investors as per the Hindu calendar.

(Staff Writer, © IANS)