Sensex, Nifty start on a flat note; Infosys, SBI top gainers
NEW DELHI: Benchmark indices opened on a flat note on Friday ahead of key economic releases including factory output numbers and readings on inflation later in the day.
Trading was stock-specific with Reliance Infra surging over 4 per cent on arbitration win against Delhi Metro.Bonaz Capital
GlenmarkBSE -12.36 % slumped over 15 per cent to see its biggest intraday fall in seven years. Asian PaintsBSE -3.19 % fell following its March quarter results. Telecom stocks were under pressure CCI ordered a detailed probe into the alleged unfair practice by top three telecom players.
At 9.25 am, the BSE Sensex was trading 4.70 points, or 0.02 per cent, lower at 30,246. The index had hit a high of 30,299.74 in early trade. The Nifty50 rose 3.25 points, or 0.03 per cent, to 9,425.65.Bonaz Capital
Asian markets were trading mixed at the time of writing this report. There were some concerns over likely cut in Fed balance sheet.
Fed vice-chairman William Dudley on Thursday said that the Fed is on track to cut its asset purchases this year or the next as the US economy is well on its way to recovery. Besides, Boston Fed President Eric Rosengren urged other policymakers to hike interest rates three more times this year.
Sentiment though remained calm given the IMD’s recent forecast of a normal rainfall this year.Bonaz Capital
The day will see the release of industrial production data for March, but that after the market hours. The industrial output slipped to a 4-month low contracting by 1.2 per cent in February due to fall in the manufacturing sector and lower offtake of capital as well as consumer goods.