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This article is more than 2 year old.

Opening Bell: Sensex, Nifty edge lower after flat start; Indiabulls Housing, bank stocks drag

Opening Bell: Sensex, Nifty edge lower after flat start; Indiabulls Housing, bank stocks drag
The Indian market opened a little changed on Friday with major indices largely trading flat amid rising geopolitical tensions, US-China trade tariff concerns and ahead of the release of Wholesale Price Index later in the day.
The BSE Sensex edged 131 points or 0.33 percent lower, to trade at 39,610 at 9.59 am. The Nifty50 slipped 56 points, or 0.46 percent, to trade at 11,859.
Broader market indices fared comparatively better with the Nifty MidCap down 0.08 percent. The BSE MidCap dipped 0.20 percent.
As many as 33 sectors declined while BSE Metal was leading among 10 advancing sectors.
Among gainers, Vedanta, Bharti Infratel, L&T, Wipro, Power Grid, ONGC and Tata Steel, rose by up to 2 percent. Indiabulls Housing, Yes Bank, ZEEL, Dr Reddy's Labs, IndusInd Bank, Bajaj Auto, Kotak Mahindra and Sun Pharma fell by up to 3 percent.
Downstream oil marketing companies slipped over a percent.
Crude oil prices eased after Thursday's sharp rally amid reports of attacks on two oil tankers in the Gulf of Oman, raising security concerns of one of the world's key shipping routes.
Being a net oil importer, any rise in prices may add to India's current account deficit.
against the greenback on Thursday but gained soon after in the opening session, helped by lower oil prices. The home currency opened at 69.58 and touched a high and a low of 69.53 and 69.58 a dollar, respectively.
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