Markets open lower; Nifty below 9200, Infosys, Tata Steel down
The benchmark indices opened marginally lower on Thursday on the back of weak global cues.
The Sensex down 46.92 points at 29596.56, and the Nifty down 18.35 points at 9185.10. About 673 shares have advanced, 441 shares declined, and 55 shares are unchanged.
Reliance Industries, Cipla, Sun Pharma, Bajaj Auto, GAIL, Bosch, Indiabulls Housing and Aurobindo Pharma are the top gainer on the indices, while Adani Ports, Infosys, Tata Steel, Larsen and Toubro, Tata Motors, Hindalco and Tata Power are the top losers.
Infosys has reported profit at Rs 3,603 crore for January-March quarter, degrowth of 2.8 percent against Rs 3,708 crore in previous quarter.
Revenue fell 0.88 percent to Rs 17,120 crore compared with Rs 17,273 crore previous quarter.
The Indian rupee opened higher by 24 paise at 64.44 per dollar on Thursday versus previous close 64.68.
"Geopolitical risks concerning North Korea and Syria have resulted in risk-off sentiment with the dollar losing ground against the yen in particular. Custodial flow has supported rupee in the past few weeks."
"We expect the USD-INR pair to trade in a range of 64.40-64.70/dollar for the day," he added.
The dollar slumped broadly - falling to a five-month low against the yen, after US President Donald Trump helped accelerate its recent decline by saying the currency was too strong and that he would prefer the Federal Reserve to keep interest rates low.
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