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Equity Tips

Sensex, Nifty sluggish in opening; ICICI falls, Sun TV soars 20%

Equity benchmarks started off Friday's trade on sluggish note despite weakness in Asian peers. Investors awaited RBI policy due next week and corporate results.

Infosys, HDFC, ICICI Bank, Adani Ports, Maruti Suzuki, IndusInd Bank and ACC were losers in early trade while Axis Bank, ONGC, Sun Pharma, GAIL, Coal India, Idea Cellular, Bharti Infratel, Tata Power, Tech Mahindra and Aurobindo Pharma gained.

The Indian rupee opened marginally higher at 67.35 per dollar versus 67.37 Thursday.

“The USD-INR pair continues to gain on the back of global dollar weakness with the dollar index settling around 99.50 levels, sharply lower from its recent highs.”

“The market will be keenly awaiting US jobs data due later today. We expect the USD-INR pair to trade in the range of 67.20-67.50/dollar today,”

The US dollar rebounded from its weakest level since mid-November on views that the greenback's longer-term upward trend remained intact, while the rouble surged after the US treasury adjusted sanctions on a Russian spy agency.

Asia shares were lower as China markets reopened after the week-long Lunar New Year holiday break and a private China manufacturing survey missed forecasts.

US stocks ended little changed on Thursday as the recent rally continued to stall following President Donald Trump's latest comments on trade and the policies he will pursue.

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