Markets Trade Lower; Infy Falls On Reports Of Likely SEBI Probe

Benchmark indices were trading marginally lower, after a decent recovery on Thursday. Global markets were rather quiet, after bouts of volatility, following a global health scare from the Coronavirus.

The Sensex was trading with losses of 84 points, while the Nifty lost 22 points in trade. Stocks like Ultratech Cement, Bank of Baroda, and JSW Steel, are scheduled to announce their December quarter results today and may experience bouts of volatility.

Shares of Infosys was down after reports that the Securities and Exchange Board of India is likely to call for a forensic audit of the company's books as it continues to probe whistleblower allegations of alleged financial irregularities at the company.

Oil marketing companies stocks were trading positive, following a sharp drop in crude oil prices. Indian oil shares jumped more than 2 per cent. Shares in Yes Bank, which jumped almost 6 per cent in trade on Thursday, added another 1.5 per cent in trade.

Zee Entertainment, which fell more than 7 per cent in trade yesterday gained ground and was up almost 2 per cent.

Meanwhile, Asian markets were subdued with the Japanese Nikkei and the Hang Sang losing marginal ground in trade. Indian markets are expected to be volatile ahead of the Union Budget.