Markets Trade Lower; Global Markets Quiet

The Sensex and the Nifty opened the day lower, as global markets lacked direction with Asian markets trading mixed.

Shares in Mainland China were marginally up, after the government said that the economy grew 6.1 per cent in 2019, largely in line with expectations. The Sensex was down 48 points, while the Nifty was down 23 points in trade.

The Japanese Nikkei was trading with gains of 0.50 per cent, while the Hong Kong's Hang Sang was marginally up.

Shares in Vodafone Idea plunged 10 per cent, after the Supreme Court on Thursday dismissed pleas, to review its earlier judgement that had asked telecom operators to pay more than Rs 1.47 lakh crores dues to the government.

Yes Bank shares too fell sharply and were down more than 5 per cent, after reports that Moody's Investors Service placed Yes Bank's long-term foreign currency issuer rating of B2 under review.

Reliance Industries, which is set to announce its quarterly numbers later today was up more than 1 per cent. Most analysts expect the company to report a net profit growth between 10 to 14 per cent.

TCS on the other hand was trading flat, ahead of its quarterly numbers. Most analysts expect the company to report a flat growth in net profits.

Shares in GAIL were marginally lower, after the board approved a fund raising of Rs 1,500 crores to meet pipeline expansion.