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Opening Bell – Market opens weak, Pharma stocks major loser

Opening Bell – Market opens weak, Pharma stocks major loser

Markets opened their Friday’s intraday trade in negative territory. Pharma stocks are the major losers on the early trading hours.

At 9:15 AM, the BSE Sensex opened lower by 43 points at 32,194, while the Nifty50 opened lower by 2 points at the 10,010 mark.

IOC was top Nifty gainer trading at Rs 397.90 per share, up by 2.80% while Sun Pharma was top Nifty loser trading at Rs 501.15 per share, down by 2.85%. There were 638 advances, 812 declines and 484 unchanged stocks on NSE reflecting mixed sentiments floating in the market.

Bank Nifty index opened at 24,629 level, down by 60 points and is now trading at 24614 level.

HPCL, Sobha, Fortis Healthcare, Apollo Tyres and Mahindra & Mahindra are the important companies which are going to announce their financial results for the quarter ended June 30, 2017.

Rupee opened at 63.67 per US dollar.

US stock displayed a mixed performance on Thursday as Dow Jones ended at record close for seventh straight session, whereas S&P 500 and the Nasdaq composite fell to session’s low due to political uncertainty prevailing in US.

In Asian markets, Australia’s ASX 200 slipped 0.23% by 9:20 a.m. HK/SIN. Japan’s Nikkei 225 was down 0.34%, while the Topix index declined 0.22%. The Kospi erased earlier gains to trade down 0.13%.