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Opening Bell: Sensex, Nifty open flat; Titan, Tech Mahindra, Axis Bank down

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The Indian market opened flat on Friday as investors waited for the release of the US inflation data, expected to be the highest in the last 40 years. The Sensex opened 0.01 percent or 4 points lower at 58,802. The Nifty50 index opened flat at 17,520 -- down 4 points or 0.08 percent. Bluechips leading the gains on the Nifty50 index were Asian Paints, Adani Ports, Mahindra & Mahindra, IndusInd Bank, and IOC.

Opening Bell: Sensex, Nifty open flat; Titan, Tech Mahindra, Axis Bank down
The Indian equity benchmark indices opened flat on Friday following negative cues from the global markets. The shares remained on the edge in the market as investors awaited the US inflation data that might peak to the highest levels in 40 years. The indices had closed higher in the previous session.
At 9:15 am, the Sensex opened 0.01 percent or 4 points lower at 58,802. Nifty50 index opened flat at 17,520 -- down 4 points or 0.08 percent. The broader market indices were trading higher.
Bluechips leading the gains on the Nifty50 index were Asian Paints, Adani Ports, Mahindra & Mahindra, IndusInd Bank, and IOC. Each scrip gained over 1-2 percent. Leading the losses were Divi's Labs, Tech Mahindra, Reliance, Titan, and Bajaj Finance. Star Health and Allied Insurance Co will make its market debut today. The firm had cut its IPO size after failing to attract investor interest.
Among sectors, financial, IT, FMCG, and consumer durables indices were under pressure. Sectors like Nifty Media, metal, pharma, and healthcare were trading in the green.
Meanwhile, Asian shares fell amid renewed worries over COVID-19 and ahead of key US inflation data that could set direction on Federal Reserve rates. MSCI's broadest index of Asia-Pacific shares outside Japan and Japan's Nikkei slipped half a percent. Shares in China Evergrande Group lost 1.5 percent after Fitch downgraded it to restricted default status.
Overnight on Wall Street, the S&P 500 lost 0.7 percent and the Nasdaq Composite dropped nearly 2 percent. However, S&P 500 futures rose 0.14 percent in Asian hours.
Over in commodities, the oil prices skidded. The US crude dipped half a percent to $70.56 a barrel. And Brent crude fell to $74.08. Gold, on the other hand, edged higher on the worries. The spot price rose 0.2 percent to $1777.8 an ounce.
(With inputs from Reuters)
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