Indian benchmark indices made a bleak start on Friday. The Sensex and Nifty are both trading lower by 48 points and 22 points, respectively. (9.25 AM)
Sectoral indices traded mixed, with Nifty PSU and Private Bank being the top laggards.
Bank Nifty shed 1% in early trade today. On the other hand, Nifty IT led gainers ahead of results from IT majors due later today.
Telecom stocks will be in focus today after the Supreme Court dismissed the petition of major telcos in reviewing its order regarding AGR's definition.
Bharti Airtel, Reliance Industries, and Infosys were the top gainers on the Nifty, while Bharti Infratel, Yes Bank, and IndusInd Bank were the top laggards.
Reliance Industries, TCS, HCL Technologies, ICICI Lombard General Insurance Company, L&T Finance Holdings, L&T Technology Services, Blue Dart Express, among others, will report their Q3FY20 results later today.
The Indian rupee opened lower at 70.99/$ vs. its close of 70.93/$.
Asian stocks traded firm after US markets scaled a new peak. In economic data, China reported the slowest GDP growth in 30 years in 2019 at 6.1%.
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