INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic market got off to a tepid start on Friday, tracking weak cues from Asian peers
A massive rise in global crude oil prices too dented investor confidence
Asian stocks struggled on Friday to track Wall Street's exuberance amid anxiety over Sino-US trade negotiations
Also tempering appetite were fresh Middle East tensions, after Iran shot down a US military drone
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent
Japan's Nikkei was flat.
Oil eyed first weekly gain in 5 weeks on tensions in the Middle East after Iran shot down a US military drone and
on hopes for a drop in US interest rates that may stimulate global growth
Brent crude was up 39 cents, or 0.6 per cent, at $64.84 a barrel
The crude prices soared 6 per cent on Thursday.
The rupee too edged lower amid worsening macro environment
Rising crude and gold prices weighed on the domestic currency that shed 34 paise against the dollar
Both oil and gold are key constituents of India's bulging import bill
Shares of Jet Airways made a crash landing this morning after surging 123 per cent in the previous session
process for the distressed airline
The stock was trading at Rs 56.60 at 9:30 am.
Foreign portfolio investors (FPIs) sold Rs 438.41 crore worth of domestic stocks on Thursday,
data available with NSE suggested.
At around 9:50 am, the 30-pack Sensex traded at 39,379, down 222 points or 0.56 per cent.
Nifty followed
suit, shedding 44.20 points or 0.38 per cent to trade at 11,647.
In the Nifty pack, 20 stocks gained, 29 declined while one remained
Meanwhile, among Sensex stocks, 13 gained while 17 fell
Vedanta was the biggest gainer, up 0.81 per cent, as the Goa CM assured mining issues to be resolved by July
ONGC, Coal India, SBI, NTPC and L-T were other gainers, rising upto half a per cent.
Maruti Suzuki declined the most, down 1.99 per cent,
after the auto maker said it has increased the price of its popular compact sedan Dzire by up to Rs 12,690 on account of compliance with new
safety and emission norms
Other losers comprised of Yes Bank, Tata Motors, ITC, Kotak Bank and Axis Bank.
BSE Midcap fell 0.12 per cent while BSE Smallcap gained 0.17
per cent.
On the sectoral front, barring Consumer Durables, Power, Industrials and Basic Materials all the sectors lost with Realty as the
mandated target, it is crucial to give higher importance to faltering economic growth, members said in the minutes of the June meeting