The Indian stock market is slightly lower Friday morning, with investors treading cautiously, tracking mixed global cues.
The data on industrial production and consumer price inflation are due later in the day.
The BSE benchmark Sensex is down 79.10 points or 0.26% at 30,171.88, after advancing to 30,299.74 in early trades. The Nifty50 of the National Stock Exchange is down 27.45 points or 0.29% at 9394.95.
In the forex market, the rupee opened at 64.33 against the U.S. dollar, up 5 paise from Thursday's close of 64.38 a dollar.
IT bellwether Infosys is up 1.75%. Tata Motors is gaining 1.1% and NTPC is up nearly 1%. State Bank of India, Hero Motocorp, Coal India, ONGC and Tata Consultancy Services are modestly higher.
Asian Paints is down nearly 3%. The company reported a 10.4% increase in net profit at Rs 462.22 crore for the quarter ended March 2017, over the year-ago quarter. Revenue from operations rose 8.9% in the fourth quarter.
Tata Steel, Axis Bank, ITC, Bajaj Auto, Adani Ports, HDFC Bank, HDFC and Dr Reddy's Laboratories are down 0.4% - 1%.
Bharti Infratel is declining by about 1.8%. Zee Entertainment Enterprises, Indiabulls Housing Finance, Ambuja Cements, ACC, UltraTech Cement and IndusInd Bank are lower by 0.6% - 1.6%.
Glenmark Pharmaceuticals is down more than 12% at Rs 796. The stock has plunged on huge volumes. The Glenmark Pharma counter on NSE has clocked a volume of nearly 6 million shares so far this morning. The stock is down following the company's fourth quarter results falling short of estimates.
Glenmark reported a 23% jump in net profit in the fourth quarter, at Rs 183.7 crore, compared to year-ago quarter. However, sequentially, net profit was down as much as 61%.
Reliance Infrastructure has moved up 3.7% on impressive volumes this morning. On the National Stock Exchange, more than 2 million shares have changed hands so far at the Reliance Infrastructure counter.
Tech Mahindra, HCL Technologies and Bank of Baroda are up 1% - 1.3%. Kotak Mahindra Bank, Yes Bank, Bosch and Tata Motors DVR are up marginally.
