Mumbai: The 30-share bellwether BSE Sensex on Friday opens flat tracking weak Asian cues.
At 9.22am, the benchmark index was trading down 0.14%, or 29.67 points, at 20,695.76 points, while the National Stock Exchange’s (NSE’s) broader 50-share index Nifty was trading down 0.37%, or 22.75 points, at 6,141.60 points.
The BSE IT index rose 0.21% to be the biggest gainer, while the BSE auto index was the biggest loser, falling 0.9%.
The gainers included Sesa Sterlite Ltd that rose 0.83% to Rs.200.20, while ITC Ltd rose 0.55% to Rs.344.45 ahead of its earnings.
Among the losers, Bharat Heavy Electricals Ltd (Bhel) shares lost 1.68% to Rs.137.80, while Jindal Steel Ltd lost 1.60% to Rs.236.80.
ICICI Bank Ltd shares was trading at Rs.1,023 on BSE, up 0.13% ahead of its September quarter earnings. ICICI Bank is expected to report its second quarter net profit at Rs.2,140 crore, according to the median of 43 analysts estimates in a Bloomberg survey.
ITC is expected to reports its second quarter net profit at Rs.2,120 crore, according to Bloomberg estimates of 31 analysts.
Apart from ICICI Bank and ITC, other companies to announce earnings include Adani Ports and SEZ Ltd, Adani Power Ltd, Bharat Forge Ltd, Colgate Palmolive Ltd, Container Corp of India Ltd, Gail India Ltd, Just Dial Ltd, KEC International Ltd, Shoppers Stop Ltd, Shree Cement Ltd, TVS Motor Co. Ltd and Wockhardt Ltd.
In Asia, a stronger yen depressed Japanese stocks, while the dollar was hemmed in near a two-year low against the euro, reflecting expectations the US Federal Reserve will continue its stimulus into 2014.
Pradeep Kumar Shukla
PGDM 1 Year
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