The benchmark indices are trading slightly lower tracking the weakness in the Asian markets.
Among the sectoral indices, the Nifty
Pharma index is trading over 1 per cent higher led by a rise in the share prices of Sun Pharmaceutical Industries and Divi's Laboratories. On the other hand, the Nifty
IT index is down by around 1 per cent weighed by Infosys.
In stock-specific action, Bharti Airtel is trading around 2 per cent lower after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade. READ HERE
Nearly 75 companies including Titan Company, Indian Energy Exchange and Hindustan Aeronautics to announce their September quarter earnings later in the day.
The rupee is trading on a firm note, having risen to 72.66 per dollar, up from its previous close of 73 against the greenback.
Asian stocks pulled back from a one-month high on Friday as the Federal Reserve looked set to deliver another interest rate hike next month, paring gains made earlier this week after US midterm elections triggered a global equities rally.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent and was headed for a loss of more than 1 per cent for the week. On Thursday, the index hit its highest level since Oct. 8. Hong Kong’s Hang Seng lost 2.4 per cent and the Shanghai Composite Index fell 1.2 per cent. South Korea’s KOSPI edged down 0.05 per cent and Japan’s Nikkei shed 1.05 per cent.
(with Reuters input)