Stock Market

Nifty opens below 7700, Sensex falls over 150 pts; ITC tanks 3%


Chillicious Team

Dragged by weak global cues, the market has opened weak on Friday. The Sensex is down 160.06 points or 0.6 percent at 25102.15, and the Nifty is down 38.55 points or 0.5 percent at 7696.95. About 243 shares have advanced, 435 shares declined, and 35 shares are unchanged.

ITC tanks over 3 percent while Dr Reddy’s Labs, TCS, Hero MotoCorp and Tata Steel are losers while HDFC, Bharti Airtel and Wipro are gainers in the Sensex.

The Indian rupee opened marginally lower at 66.57 per dollar on Friday against previous close of 66.55.

Pramit Brahmbhatt of Veracity said, “Positive global markets and cooling crude prices will support the rupee.”

The dollar rose against a basket of major currencies ahead of the key non-farm payrolls data.

Asian shares opened lower after Wall Street ended mixed, as investors await closely watched April US non-farm payroll numbers.

US stocks gave up early gains to end flat on Thursday as consumer discretionary shares fell and investors showed caution ahead of the April jobs report. The Dow Jones industrial average closed up 9.45 points, or 0.05 percent, to 17,660.71, while the S&P 500 lost 0.49 point, or 0.02 percent, to 2,050.63, its third straight session of losses.