The benchmark BSE Sensex opened at 35,398 points and the NSE Nifty50 opened at 10,728 points; taking a negative turn ahead of the OPEC meet outcome, following the global cues. The two-day OPEC meet will take place today and tomorrow, discussing the OPEC production and supply to countries. M&M, GAIL, ICICI Bank, BPCL and HCL Tech are the top Nifty gainers while UPL, Grasim, Coal India, Adani Ports and Bharti Infratel are the top Nifty losers.
(Above mentioned: Opening Bell update as of 09:20 am)
What was expected?
The market is likely to open negative with global investors being cautious amid the US-China trade war and many countries chipping away at corporate profits with oil prices being choppy ahead of the OPEC meeting.
The SGX Nifty is at levels around 10,700, indicating a weak opening for the Indian market on Friday.
The Asian market trades lower as the MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade, stuck barely above its six-month low hit on Tuesday. Japan's Nikkei lost 1.0 percent.
On Wall Street, the Dow Jones Industrial Average fell for an eighth straight session on Thursday and the S&P 500 lost 0.63 percent.
Even the high-flying Nasdaq Composite shed 0.88 percent.
Choppy trade for the Indian market continued ahead of OPEC meeting outcome on Thursday.
Equities failed to hold on to gains seen through the day as the Nifty closed with a fall of 31 points at 10,741, while the Sensex slipped 237 points from opening high of 35,679 to end 115 points lower at 35,432.
First Published: IST