Sensex, Nifty open in red; Yes Bank in focus
08/11/2019 09:35

India's stock market opened lower on Friday after Moody's Investors Services downgraded India's outlook from 'stable' to 'negative' and led by weak trading in YES Bank, Tata Steel and IndusInd Bank are among others. Overseas, World stocks rallied to near record highs on Friday after China said it had agreed with the United States to cancel tariffs in phases.

The rupee on Friday opened 34 paise lower at 70.30 per dollar versus previous close 70.96. Whereas, US crude oil futures fell in the morning trade amid fading hopes that a deal to end the lingering trade war between Washington and Beijing would be signed any time soon, the gloom compounded by rising crude inventories in the United States.

At 9:23 hours, the 30-share benchmark index was trading at 40554.49, down by -99.25 points or by -0.24 per cent, and the NSE Nifty was at 11987.15, down by -24.9 points or by -0.21 per cent.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 586.55,+1.06%), Mahindra & Mahindra Ltd. (Rs. 777.00,+0.90%), Oil And Natural Gas Corporation Ltd. (Rs. 143.35,+0.88%), IndusInd Bank Ltd. (Rs. 1390.45,+0.69%), HCL Technologies Ltd. (Rs. 1155.45,+0.60%), among others.

On the flip side, the top losers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 398.00,-1.28%), Vedanta Ltd. (Rs. 159.05,-1.18%), Sun Pharmaceutical Industries Ltd. (Rs. 436.00,-1.01%), Bharti Airtel Ltd. (Rs. 368.20,-0.93%), NTPC Ltd. (Rs. 118.70,-0.71%), among others.

On the sectoral front, Realty index was at 2169.16 up by 48.12 points or by 2.27%. DLF Ltd. (Rs. 203.70,+5.85%), Indiabulls Real Estate Ltd. (Rs. 73.55,+5.00%), Housing Development & Infrastructure Ltd. (Rs. 1.91,+4.95%), Sobha Ltd. (Rs. 445.00,+1.21%), Phoenix Mills Ltd. (Rs. 724.90,+1.06%),.

Among others, IT index was at 15502.14 up by 26.66 points or by 0.17%. Rolta India Ltd. (Rs. 5.55,+3.35%), Tata Elxsi Ltd. (Rs. 827.40,+1.68%), Intellect Design Arena Ltd. (Rs. 153.10,+1.22%), Cyient Ltd. (Rs. 390.00,+1.08%), eClerx Services Ltd. (Rs. 434.75,+0.94%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1114 , shares advanced were 539 while 519 shares declined and 56 were unchanged.