Airtel, Grasim, Infratel and Reliance Industries are among the gainers, while Yes Bank, Tata Motors and Tata Steel are the top losers on the Nifty.
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Equity benchmark indices snapped yesterday’s rally and opened lower in the morning trade as market participants seem to be cautious ahead of the Q2 corporate earnings announcement.
The Sensex was trading 143 points lower at 38,035 levels, while the Nifty50 index was trading at 11,276, down 37 points.
The Indian rupee opened higher by 12 paise at 70.95 per dollar against the previous close of 71.07/$.
Airtel, Grasim, Infratel and Reliance Industries are among the gainers, while Yes Bank, Tata Motors and Tata Steel are the top losers on the Nifty.
The Bank Nifty slipped 1% led by Yes Bank, RBL Bank and Bank of Baroda. All the components in the Bank Nifty index are trading in the red.
The first big corporate results come today when the IT bellwether TCS and private banking major IndusInd Bank will showcase its July-September quarterly results. Both the stock is trading lower.
Asian indices opened in the green, however, it is trading marginally higher as market participants watched for developments on the US-China trade front ahead of high-level negotiations between the two economic powerhouses. Markets in Taiwan are closed on Thursday for a holiday.
Bond yields rose marginally as did oil prices as chances of revival of global growth saw risk-on trade take place with Dow Jones rising almost 200 points.
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* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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