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the BSE Sensex opened down by 77 points at 29850, while the Nifty50 opened lower by 38 points at 9224 levels. All sectoral indices are trading in red. Geopolitical tensions between US and Syria drag the Asian markets, India follows.
- Adani Ports, India Bulls Housing finance, Sun Pharma and Reliance Industries are down with more than 1% loss. Bharti Airtel witnesses short covering and surges 1.5%.
- Market breadth continues to remain negative with 558 advances, 894 declines and 442 unchanged stocks on NSE which reflects negative bias for now.
- The rupee opened at 64.69 per dollar, down 18 paise. Currently it is trading at 64.57
US missile attacks in Syria may weigh down markets
- Indian equities markets are likely to open lower on Friday after the United States launched cruise missiles at an airbase in Syria in response to Syrian forces’ alleged use of chemical weapons. The bearish trend in the SGX Nifty, which was trading down by 60 points to 9,207, also signalled a negative start.
- Nifty50 opened lower on Thursday and recovered after registering a low of 9,219. Now, going forward, as far as support is concerned, the area of 9,190-9,210 is a strong support zone. On the upside, Nifty50 needs to hold above levels of 9,275-9,280 to witness a fresh upward movement up to levels of 9,340-9,380.
- Back home, Indian market opened on a negative note and the mood remained cautious for the better part of the trading session, with market participants awaiting announcement of Reserve Bank of India’s monetary policy.
- The RBI came out with its policy review around mid-afternoon, wherein it kept the repo rate unchanged at 6.25%, while it raised the reverse repo rate by 25 basis points to 6%. After the announcement, market recovered from the lower levels and closed near day’s high.
- The Rajya Sabha passed four legislations which will enable the government to roll-out the historic Goods and Services Tax regime on July 1.
- The US stocks closed marginally higher, but off the session's highs on Thursday as the meeting between President Donald Trump and Chinese counterpart Xi Jinping got underway. The Dow Jones Industrial Average closed up 15 points at 20,663. The Nasdaq Composite Index rose 14 points to close at 5,879. The S&P 500 index rose 5 points to close at 2,357.
- Asian markets are trading with negative sentiments on Friday after reports that the US launched a cruise missile attack against Syria. Japan’s Nikkei 225 has shed 7 points. Hong Kong’s Hang Seng has slipped 106 points and China’s Shanghai Composite is trading near the neutral line.
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