Stock Market

Sensex, Nifty defy weak global trend; ITC, HDFC twins top gainers

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NEW DELHI: Domestic equity market opened lower on Friday as political uncertainty increased in the US, but soon recouped losses to trade in the positive terrain led by gains in FMCG major ITC and HDFC twins.

At around 9.40 am, BSE benchmark Sensex was trading 75 points or 0.19 per cent higher at 39,061 while NSE barometer Nifty topped the 11,550 mark to trade at 11,583, up 12 points or 0.10 per cent.

However, the advance-decline ratio in the 30-pack Sensex leaned towards the sellers with 19 constituents in the red.

YES Bank and Tata Motors were among the worst performing stocks in the Sensex pack.

Shares of Yes Bank declined over 4 per cent after a promoter cut its holding in the lender.

Yes Capital, the second holding company controlled by YES Bank co-founder Rana Kapoor, has reduced its shareholding in the bank by 1.80 per cent to prepay Rs 630 crore borrowed from Franklin Templeton Asset Management through NCDs. Tata Motors, ONGC, Vedanta, Tata Steel and M-M were among other stocks that traded with losses.

On the other hand, ITC, Bajaj Finance, HDFC and RIL formed the gainer back on Sensex, rising up to 2 per cent. All sectors except IT were trading in the red on NSE.

Nifty Metal was the biggest sectoral loser in the opening trade, down 0.8 per cent.

Nifty IT was up 0.2 per cent.

Among global markets, most of the Asian equity indices were trading lower after a whistleblower report released on Thursday said President Donald Trump not only abused his office in attempting to solicit Ukraine’s interference in the 2020 US election for his political benefit, but that the White House tried to 'lock down' evidence about that conduct. The rupee on Friday opened 9 paise lower at 70.97 per dollar following some buying in American currency by banks and importers.




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