NEW DELHI: Weak global sentiment extended to the Indian market as equity benchmarks Sensex and Nifty opened lower on Friday.
Major Asian markets were subdued in the wake of a fall on Wall Street owing to grim outlook on global economic growth.
A set of data showed that demand for machinery and primary metals declined in December, causing a fall in the US-manufactured capital goods. Experts say a sustained slowdown in business spending on equipment could crimp
The reports, together with data last week showing steep declines in retail sales in December and manufacturing output in January, strengthen the Federal Reserve’s “patient” stance toward raising interest rates further this year, Reuters reported.
A fall in global crude oil prices kept Indian rupee stable against the US dollar and capped the losses of Sensex. In the early deal, rupee inched up by 6 paise against the dollar. The domestic unit had skidded by 11 paise to close at 71.24 against the US dollar Thursday.
Sensex fell 90 points and Nifty fell below 10,790 in opening deals. Around 9:30 am, the BSE Sensex was 85 points, or 0.24 per cent down at 35,813 and the NSE Nifty index was 26 points, or 0.24 per cent, down at 10,764.
Midcaps and smallcaps were outperforming Sensex as the BSE Midcap and Smallcap indices were 0.24 per cent up each.
Kotak Mahindra Bank, Reliance Industries, Larsen & Toubro, HDFC twins, Axis BankNSE -0.32 % and ITC were among top drags on Sensex. Shares of ICICI BankNSE 0.56 %, Maruti Suzuki, YES Bank, IndusInd Bank and State Bank of India were holding up.
Shares of Kotak Mahindra BankNSE -3.86 % fell after reports that the ING Group will offload around 1.20 per cent stakin Kotak Mahindra Bank via block deal on Friday. There are expectations that the offer price will be at 3-5 per cent discount to Thursday’s closing price.
Among the sectoral indices on BSE, metal, consumer durables, capital goods, bank and energy were losing. Telecom, pharma, auto, realty and oil & gas were up.
Meanwhile, India 10-year bonds' yields fell 0.01 per cent to 7.54 per cent on Thursday from 7.55 per cent over the previous trading session, according to RBI data.
Major Asian markets were subdued in the wake of a fall on Wall Street owing to grim outlook on global economic growth.
A set of data showed that demand for machinery and primary metals declined in December, causing a fall in the US-manufactured capital goods. Experts say a sustained slowdown in business spending on equipment could crimp
The reports, together with data last week showing steep declines in retail sales in December and manufacturing output in January, strengthen the Federal Reserve’s “patient” stance toward raising interest rates further this year, Reuters reported.
A fall in global crude oil prices kept Indian rupee stable against the US dollar and capped the losses of Sensex. In the early deal, rupee inched up by 6 paise against the dollar. The domestic unit had skidded by 11 paise to close at 71.24 against the US dollar Thursday.
Sensex fell 90 points and Nifty fell below 10,790 in opening deals. Around 9:30 am, the BSE Sensex was 85 points, or 0.24 per cent down at 35,813 and the NSE Nifty index was 26 points, or 0.24 per cent, down at 10,764.
Midcaps and smallcaps were outperforming Sensex as the BSE Midcap and Smallcap indices were 0.24 per cent up each.
Kotak Mahindra Bank, Reliance Industries, Larsen & Toubro, HDFC twins, Axis BankNSE -0.32 % and ITC were among top drags on Sensex. Shares of ICICI BankNSE 0.56 %, Maruti Suzuki, YES Bank, IndusInd Bank and State Bank of India were holding up.
Shares of Kotak Mahindra BankNSE -3.86 % fell after reports that the ING Group will offload around 1.20 per cent stakin Kotak Mahindra Bank via block deal on Friday. There are expectations that the offer price will be at 3-5 per cent discount to Thursday’s closing price.
Among the sectoral indices on BSE, metal, consumer durables, capital goods, bank and energy were losing. Telecom, pharma, auto, realty and oil & gas were up.
Meanwhile, India 10-year bonds' yields fell 0.01 per cent to 7.54 per cent on Thursday from 7.55 per cent over the previous trading session, according to RBI data.
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