Domestic equities trade with marginal gains; Infosys, ITC gain
Domestic equities opened Friday trade on a positive note with key market gauge Sensex trading with marginal gains. European Central Bank’s decision to trim asset purchase programme weighed on investors’ sentiments in the morning trade.
While the 30-share index was trading 0.16 percent up at 26,738.45 (10.05 am), the 50-share index Nifty was at 8,249.60, up 0.03 percent in the early morning trade.
Auto, capital goods, consumer durables, IT and FMCG, among others, were providing support to market, while bank, metals and oil and gas sectors were dragging it.
Hindalco was the major gainer in the morning trade with 1.70 percent gain to trade at Rs 182.25. Infosys, ITC, Tata Motors and Tech Mahindra were the other major gainers on Friday.
Meanwhile, Bharti Infratel, BPCL, Bajaj Auto, Coal India and Bosch lost in the early morning trade.
On global front, Asian equities were trading flat as European Central Bank decided to trim its asset buying programme on Thursday. The ECB said it would reduce its monthly asset buys to 60 billion euros ($63.68 billion) as of April, from the current 80 billion euros, and extend purchases to December from March. Most Asian indices like Hong Kong’s Hang Seng index, South Korea’s Kopsi were trading flat, weighing on investors’ sentiments. However, major US stock indices posted gains on Thursday and set fresh record highs.
Meanwhile, analysts said FIIs buying spree would continue in Indian stocks given attractive valuation of the market. Rupee was trading 0.39 percent higher at Rs 67.62 against dollar in the morning trade.
