Markets open marginally lower; SBI results eyed

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Markets open marginally lower; SBI results eyed
Markets opened the day marginally lower in line with Asian peers that were trading steady to weak. The BSE Sensex was trading 3 points lower at 17,557 points, while the Nifty was unchanged from Thursday's close at 9.20 am IST.

Among the early gainers in trade were TCS and Bharti Airtel, both of which gained almost 2%. It maybe recalled that the stock lost more than 10% in two trading sessions, following its results.

Tata Motors lost ground today, after results which were declared on Thursday disappointed the streets. The stock was down more than 2% in trade.

State Bank of India was marginally down ahead of its results to be declared later today. Indian Oil Corporation was down 1.65% in early trade. The company posted a loss of over Rs 22,500 crore, the biggest quarterly loss by any Indian company.

Meanwhile, shares in Asia were all trading marginally lower. Taiwan's Taiwan Weighted, Singapore Strait Times and the Japanese Nikkei were all down in trade.

Analysts believe that the markets are likely to trade flat, following the absence of any triggers.

Read more about: sensex, nifty
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