Sensex, Nifty turn volatile after flat opening; Vodafone-Idea plunges 16%

The Indian market turned volatile after opening flat on Friday. The Sensex was trading 111.36 points or 0.29 percent higher at Rs 39,137.63 while the Nifty50 was at 11,611.05, up 28.15 points or 0.24 percent, at 9:38 am.

Six out of 11 sectoral indices traded higher with the Nifty FMCG in the front, up 0.7 percent. On the flip side, the Nifty Metal was the top sectoral loser, down 0.35 percent.

Infosys, SBI, ITC, BPCL and Eicher Motors were the top gainers on the Nifty50 in the morning session while Bharti Infratel, Tech Mahindra, Bharti Airtel, HCL Technologies and Dr Reddy's Laboratories were the top laggards.

Vodafone-Idea's shares tanked 16 percent intraday after the Supreme Court rejected the telecom companies' definition of Adjusted Gross Revenue (AGR) on Thursday. At 9:50 am, the share price was trading 8.05 percent lower at Rs 4 per share on the NSE.

On the global markets' front, Asian shares wobbled on Friday as investors were reluctant to make big bets ahead of key central bank policy meetings next week against the backdrop of slowing global growth, while sterling extended its slide on a fresh bout of Brexit anxiety.