Sensex down 100 points, Nifty at 11,527; NTPC, Infosys, Wipro major gainers
On world markets, Asian shares were on course for a second straight week of losses on Friday as the release of a whistleblower complaint against US President Donald Trump heightened uncertainties about the global economy, already reeling from Sino-US trade war.
Market opens with weak start on the back of subdued global cues. The Sensex is down 135.59 points at 38,854.15, while Nifty is down 43.30 points at 11,527.90. Among major gainers on the Indices include NTPC, Infosys and Wipro, while Yes Bank, Tata Motors, Nestle, Vedanta, Gail, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, Sun Pharma, JSW Steel, and Lakshmi Vilas Bank are major losers.
Amid positive sentiment, neutral global markets, domestic institutional investors (DIIs), foreign institutional investors (FIIs) and neutral futures and options (F&O) cues, the short-term trend of Indian share market will be positive today, according to Zee Business.
The equity indices, Sensex and Nifty, closed with gains of more than one per cent on Thursday, but certain stocks came in news after the market was closed for trading which can have an impact on the indices today. These stocks include changes in Nifty, Tata Motors/Auto stocks, Yes Bank, ITC/Godfrey Phillips, and Lakshmi Vilas Bank/Religare Enterprises.
On Thursday, the domestic equity benchmarks closed with gains of more than one per cent amid positive cues from global markets. The Sensex at Bombay Stock Exchange surged 396.22 points or 1.03 per cent to end at 38,989.74, while the Nifty at National Stock Exchange climbed 133.10 points or 1.22 per cent to settle at 11,573.30. Bank Nifty closed up by 427.25 points or 1.52 per cent at 30,013.30.
On world markets, Asian shares were on course for a second straight week of losses on Friday as the release of a whistleblower complaint against US President Donald Trump heightened uncertainties about the global economy, already reeling from Sino-US trade war. MSCI`s broadest index of Asia-Pacific shares outside Japan slipped 0.09%, having fallen 1.4% so far this week, while Japan`s Nikkei slid 0.54%. U.S. S&P500 futures lost 0.08% in early Asian trading after the index lost 0.24% on Thursday, according Reuters report.
On Thursday, a whistleblower report released said President Donald Trump not only abused his office in attempting to solicit Ukraine`s interference in the 2020 US election for his political benefit, but that the White House tried to "lock down" evidence about that conduct, the report said. Notably, the report came after the US House of Representatives Speaker Nancy Pelosi launched an impeachment inquiry into him this week.
The damage is already evident with Micron Technology Inc, a major Huawei supplier, which forecast first-quarter profit below Wall Street targets, pushing its share prices down 7% in after-hours trade, it said.
Watch Zee Business Live TV
Meanwhile, oil prices steadied off two-week lows as a Pentagon statement intensified concerns of a Middle East conflict and supply disruptions, although the impeachment inquiry into US President Donald Trump kept risk assets broadly in check, Reuters added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.