The markets on Friday morning opened lower after opening at record highs through the week. Sensex at 66,945.42, down by 626.48 points and Nifty was at 19,787.55 with a drop of 191.60 points. L&T, Nestle, State Bank of India, Kotak Bank and IndusInd Bank were the top gainers in the morning session, whereas Infosys, HCL Tech, Wipro, Tech Mahindra and TCS were among the losers.
UltraTech Cement, JSW Steel, HDFC Life, Tejas Net, Ashok Leyland, Hindustan Zinc, Paytm and DLF will be in focus today as they announce the first quarter results.
Markets on Thursday
Domestic indices closed in green on Thursday, after hitting record high. The BSE Sensex went up 474.46 points to end the day at 67,571.90. The NSE Nifty50 was up 136.40 points to end the day at 19,969.55.
US markets were mixed on Thursday with the Dow Jones registered its ninth straight day of gain whereas Nasdaq was pulled down due to Netflix and Tesla after they announced their quarterly results. Tesla shares dipped 9.74 per cent on Thursday which is its biggest one-day percentage drop since April 20 and Netflix shares went down by 8.41 per cent, its biggest decline since December 15.
The Dow Jones Industrial Average gained 163.97 points at 35,225.18, the S&P 500 closed 30.85 points lower at 4,534.87 and Nasdaq Composite slipped 294.71 points at 14,063.31.
The Asian stock markets were trading mixed on Friday with Hong Kong's Hang Seng gaining 20.86 points to 18,948.88 and GIFT Nifty exchange was comparatively flat after it gained 11.50 points to trade at 19,870. However, South Korea's KOSPI saw a dip of 7.33 points at 2,592.90 and Japan's Nikkei 225 slipped 137.71 points to 32,352.81.
Oil prices were stable on Friday morning as markets weighed tapering interest rate hikes and lowering US crude inventories against the weak Chinese economic data which is expected to impact demand. Brent crude futures rose 3 cents to $79.67 per barrel and US West Texas Intermediate crude jumped to $75.74 per barrel up by 9 cents.
Indian rupee opened flat on Friday at 82.01 per dollar against Thursday's close of 81.99.