The market has opened cautiously lower head of US President-Elect Donald Trump’s inauguration later in the day. The Sensex is down 106.48 points or 0.4 percent at 27202.12, and the Nifty down 27 points or 0.3 percent at 8408.10.
Axis Bank, ICICI Bank, Tata Motors, Coal India and Asian Paints are top losers in the Sensex while GAIL, Cipla, SBI, Bharti and L&T are gainers.
The Indian rupee opened higher at 68.05 per dollar on Friday versus previous close 68.12. Bhaskar Panda of HDFC Bank said, "Data from US has been upbeat but one needs to keep an eye on the new US president and his policies. Confidence in India is on the mend.
" Treasuries slumped and the dollar slipped as investors await Donald Trump's inauguration for clues on whether his policies will boost growth in the world's largest economy.
Asian markets slipped in morning trade as risk sentiment soured ahead of Trump’s event. The Nikkei and Hang Seng slipped 0.14 percent and 0.72 percent, respectively. Investors now await key data from China as it is set to announce its GDP, retail sales as well as industrial production figures on Friday.
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