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Sensex Opens Flat; Asian Markets Fall
Benchmark indices opened the day flat, despite a sharp fall in indices across Asia. US and European markets fell, as investors worried over economic growth across the globe.
The Sensex was trading at a loss of 8 points, while the NIfty gained 1 point.
Shares in ICICI Bank and State Bank was up marginally. Both the banks cut home loan rates by 10 basis points.
NBCC rallied, following a solid order inflows. The stock has seen a good rally in the last few months.
Infosys was leading losers ahead of its results later next week. The stock was down 1 per cent in trade.
PSU banking stocks were down, with IDBI Bnak losing after reports that a stake sale in the bank will happen only to large institutions.
IPCA Labs was down 10% in trade on sustained selling pressure. Stocks like Strides Arcolabs, Dr Reddy's and Sun Pharma were early gainers from the space.
Meanwhile, the forex markets were closed for trade today.
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