INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Headline indices Sensex and Nifty registered positive openings on Friday in wake of healthy December quarter numbers posted by
Reliance Industries and Hindustan Unilever on Thursday.
However, market turned choppy soon as rupee's fall, following an uptick in crude
oil prices weighed on sentiment.
Oil prices rose on Friday after a report from Opec showed its production fell sharply last month, easing
fears about prolonged oversupply, Reuters reported.
The rupee declined over 10 paise to 71.17 against US dollar due to some buying in
American currency by banks and importers amid an uptick in global crude oil prices
Improved global cues on hopes of US-China trade deal after US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs
imposed on Chinese imports helped market kick off day on a positive note.
The Wall Street Journal reported on Thursday that US Treasury
Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during
trade discussions scheduled for January 30.
Markets in China, Japan and Korea climbed up to 1 per cent after this news which extended to
Indian bourses.
But, a fresh spell of selling in pockets of pharma, finance, bank and IT dragged market lower.
Sensex was trading at 36,345,
down 30 points, or 0.08 per cent at 9:30 am
The Nifty index was 7 points, or 0.06 per cent, down at 10,898
BSE Midcap and Smallcap indices were 0.29 and 0.16 per cent down, respectively, at that time
As many as 18 stocks were suffering losses in Sensex kitty, compared with 13 that were in green zone.
Reliance Industries was leading pack
of Sensex gainers, followed by ONGC, Power Grid, Tata Steel and ICICI Bank.
On other hand, Sun Pharma, YES Bank, Bharti Airtel, Axis Bank
and Mahindra Mahindra were among top losers in Sensex index.
Selling emerged in most sectors
BSE Pharma fell nearly 2 per cent, leading pack of sectoral losers
Losses in shares of Sun Pharma, Lupin, Piramal Enterprises, Cadila Healthcare, Glenmark Pharmaceuticals and Divi's Laboratories dragged
