Market opens on higher note despite weakness in Asian stocks

Sensex opens 50 points lower Nifty opens flat

The BSE benchmark Sensex was down 92.18 points at 35,012.69 and the 50-share NSE Nifty fell 32.85 points to 10,646.80.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 35,144.96 points, closed at 34,915.38 points (3.30 p.m.) - down 187.76 points or 0.53 per cent - from its previous session's close.

Indian shares dropped on Friday tracking global equity markets, while IT and pharma stocks pulled down the indexes, ahead of elections in the key state of Karnataka.

The market witnessed volatile trades ahead of the US Fed policy announcement scheduled later in the day.

The Nifty50 index was 0.44 per cent down at the same time.

The broader markets too reflected a bearish trend for the second day.

Commenting on the day's trade, Geojit Financial Services' Head of Research Vinod Nair said that: "Market continued to fall amid weak global cues and flight of foreign funds ahead of USA job data". Earlier the gauge had lost 73.28 points in the previous session. Market participants booked profits at higher levels in opening trade, brokers added.

Other laggards were Asian Paints, L&T, HUL, Coal India, Infosys, RIL, ITC Ltd, Bharti Airtel, Tata Motors, TCS, Adani Ports, HDFC Bank, Yes Bank and Hero MotoCorp.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 525.93 crore, while DIIs bought shares to the tune of Rs 165.84 crore in Wednesday's trade, provisional data showed. Australian shares fell after a Reserve Bank of Australia statement that signaled the central bank sees faster economic growth this year and next but doubts inflation will reach the mid-point of its target band until 2020.

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