INSUBCONTINENT EXCLUSIVE:
Stock Market on Friday: Asian stocks fell on Friday after US-China trade talks ended without progress.The domestic stock markets swung
between gains and losses after opening lower on Friday
However, volatility kicked in leading to a deeper fall in the indices
levels, a mixed trend at Asian markets following a negative leads from Wall Street dented the trading sentiment.Asian stocks fell on Friday
Induslnd Bank (-0.71%), Bharti Airtel (-0.73%) and ICICI Bank (-1.31%)
Prominent losers on the NSE index were Cipla (-1.65%), Hindalco (-1.15%), Bharti Airtel (-0.97%), Infratel (-0.97%) and Lupin (-0.96%).The
rupee weakened by 13 paise to 70.24 against the US dollar in opening trade today
Increased demand for the American currency from importers and banks dragged the rupee, according to analysts.Oil markets were steady on
Friday as the unresolved trade dispute between Washington and Beijing muted activity
US and Chinese officials ended two days of talks on Thursday with no major breakthrough as the trade war between the world's two biggest
economies escalated with activation of another round of duelling tariffs on $16 billion worth of each country's goods.Shares of IndiGo
were in focus as the budget passenger carrier has grounded some of its A320 Neo aircraft due to non-availability of spare engines from Pratt
Larsen and Toubro traded higher, a day after the company approved a share buyback worth Rs 9,000 crore at Rs 1,500 apiece.On the other hand,
major gainers in the 30-share Sensex pack in opening trade were Axis Bank (+1.18%), Power Grid (+1.13%), NTPC (+0.97%), Asian Paints
(+0.60%), Larsen Tourbo (+0.58%) and Mahindra Mahindra (+0.56%)
SP BSE Sensex had ended at 38,336.76 and the broader NSE Nifty at 11,582.75
(With inputs from agencies)
