Benchmark indices were trading lower on Friday with NIfty hovering around 10,000 levels dragged mainly by the pharma index. Investors remained on edge as the Street remained disappointed with Reserve Bank of India’s 25 bps rate cut.
Corporate earnings will lead to a more stock-specific action in today’s trade. M&M, HPCL, Fortis Healthcare, Apollo Tyres and Sobha are some of the companies that will report their June quarter earnings later today.
Asian markets were trading mixed after technology stocks fell on Wall Street, while US Treasury yields and the dollar remained under pressure on signs that probes into possible Russian interference in the 2016 US elections are gathering pace. Global stocks are now awaiting US July employment report, due later in the session, for clues on whether it will impact the timing of Federal Reserve’s gradual policy tightening.
At 1:04 pm, the S&P BSE Sensex was trading at 32,168, down 70 points while the broader Nifty50 index was ruling at 10,010, down 3 points. In broader markets, the BSE Midcap outpweformed markets, up 0.1% while BSE Smallcap index was little changed.
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