Markets tad down tracking weak Asian cues
The Indian markets are trading marginally lower following mixed global cues. The BSE Sensex is at 15,771, down 86 points and the Nifty opened at 4,718, down 32 points.
Overnight, banks led Wall Street to gains on Thursday even as Europe struggled again. The Dow Jones industrial average dipped 2.72 points, or 0.02 per cent, to 12,415.70. The S&P 500 Index gained 3.76 points, or 0.29 per cent, to 1,281.05.
Asian shares edged down and the euro hovered near a 16-month low against the dollar and an 11-year low against the yen on Friday. MSCI's broadest index of Asia Pacific shares outside Japan was down 0.1 per cent while Japan's Nikkei was down 0.3 per cent.
Back home, the Nifty has consolidated in the last two trading days now seems ripe for a decisive move on the either side. On Friday, 4,780 on the upside and 4,720 on the downside are the key levels to be watched for, analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 4,739 levels; down 14 points.
On the sectoral front, BSE Auto, Consumer Durables, FMCG, IT and Oil & Gas indices are trading in the red, having shed nearly 1% each.
BSE Capital Goods, Bankex and Metal indices are trading higher by nearly 1% each.
Among Sensex share, ONGC is 1.5% down, Bharti Airtel has slipped 2.3% and L&T is down 1.7%.
In the banking space, ICICI Bank, HDFC Bank and SBI are down between 1-2%.
However, index heavyweights Reliance Industries and Infosys are gainers up 0.5% each.
The broader markets are trading flat.
The overall market breadth is nearly neutral as 559 stocks have declined against 504 advancing ones, on the BSE.