Opening Bell – Markets see dip on opening mapping weak global cues
Lupin is the top Nifty gainer and Tata Motors is the top Nifty loser in the morning hours.
There are 643 advances, 713 declines and 460 unchanged stocks on NSE reflecting a negative bias floating in the market.
The Nifty50 index, in the previous session, failed to overcome its roadblock of 9,700. However, it has managed to close above the zone of 9,650-9,660. Now, going forward, once the Nifty50 index manages to sustain above the level of 9,700, it could signal start of the next leg of rally. On the downside, immediate supports are seen at levels of 9,650 and 9,600.
The rupee opened at 64.75 per US dollar appreciated by 3 paise. On Thursday, the rupee ended steady at 64.78 against the US currency in a range-bound trade amid concerns over a possible rate hike by the Federal Reserve
The US stocks closed lower on Thursday after sell-off in technology stocks and disappointing labour market data. The Dow Jones Industrial Average plunged 158 points to close at 21,320. The S&P 500 dropped 23 points to end at 2,410, while Nasdaq Composite index closed down 61 points at 6,089.
Asian markets have edged lower in early trade on Friday. Japan’s Nikkei 225 has slid 25 points; Hong Kong Hang Seng has fallen 93 points, while China’s Shanghai Composite has slipped by 11 points.