Nifty slips below 10,900 mark; Sun Pharma stock declines 10%


Equity tips:-






Equity benchmark indices opened in positive territory on Friday, tracking positive global cues. However, the market pared gains post opening due to losses in pharma, media, banking, IT, and FMCG stocks.

Reliance Industries stock gained 1% on both the indices after the company posted Q3FY19 numbers and beat the consensus estimates on all fronts. Its revenue grew 55.9% yoy to Rs1,71,336cr against Rs1,09,905cr in Q3FY18.


The Sensex slipped 44 points at 36,330, while the Nifty dropped 24 points at 10,881 levels. The market breadth was negative with 511 shares advancing, 962 shares declining, and 563 remaining unchanged.


ONGC, Power Grid, Infratel, NTPC, and Reliance Industries were the top gainers on the Nifty50, while Sun Pharma, UltraTech, Yes Bank, GAIL, Airtel were trading in the red.


Volatility index India VIX rose 2% to 16.58.



The most active stocks were Sun Pharma, Reliance Industries, Yes Bank, HUL, and Jet Airways.



The Indian rupee opened flat at 71.06/$ on Friday vs. previous close 71.05/$.



Asian stock markets are in positive territory on Friday amid optimism that US-China trade tensions may ease after the Wall Street Journal said the US is considering lifting tariffs on Chinese goods in an effort to calm markets and give Beijing an incentive to make deeper concessions.




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