Markets Live: Sensex, Nifty fall steeply ahead of GST rollout

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Mumbai: The BSE Sensex opened lower on Friday against the previous session’s closing. The broader NSE’s Nifty, too, fell in morning hours. The Indian rupee fell against the US dollar. The shares of SunPharma, Wipro, Cipla and TCS rise, whereas the shares of HDFC and ICICI fall.

■ 9.30am: BSE Sensex trades lower by 174 points, or 0.56%, to 30,683, while the Nifty 50 falls 48 points, or 0.50%, to 9,456.

■ 9.27am: InterGlobe Aviation Ltd fell 2.5% to Rs1,205 after the company has expressed unsolicited interest in Air India, becoming the first suitor to toss its hat in the ring after the federal cabinet approved a proposal to privatize the state-owned airline. Other aviation stocks were also fell. SpiceJet Ltd fell 2.6%, Jet Airways India Ltd fell 1.2%.

■ 9.25am: Aditya Birla group companies trade higher. Aditya Birla Nuvo Ltd rose 2.5%, Grasim Industries Ltd 2.3%, Ultratech Cement Ltd 0.5%. Aditya Birla Capital, the financial services arm of the Aditya Birla Group, on Thursday signed an agreement to sell a 2.2% stake to PremjiInvest, the family investment arm of Wipro chairman Azim Premji, for around Rs700 crore.

■ 9.20am: Housing finance companies were trading lower. Housing Development Finance Corp (HDFC) fell 1%, Repco Home Finance 2%, Indiabulls Housing Finance Ltd 1.8%, Can Fin Homes Ltd 1.2%, LIC Housing Finance Ltd 1.2%, GIC Housing Finance Ltd 1.3%.

■ 9.15am: The rupee opened at 64.72 a dollar and touched a low of 64.73—a level last seen on 24 June. At 9.15am, the rupee was trading at 64.69 a dollar, down 0.15% from its Thursday’s close of 64.63.

■ 9.10am: Asian currencies were trading higher as dollar extended losses with bonds as central banks worldwide shift towards a more hawkish tone. China offshore spot was up 0.49%, China renminbi 0.3%, Japanese yen 0.3%, Philippines peso 0.2%, Singapore dollar 0.15% and Thai Baht 0.12%. However, South Korean won was down 0.21%, Indonesian rupiah 0.08% and Taiwan dollar 0.06%.

■ 9.00am: Asian bourses opened lower on Friday morning after a softer lead from Wall Street as markets awaited key economic data out of China.