The market performs on a lower note during Friday's opening session. Indices tracked Asian peers which have witnessed a fall as Covid-19 cases rapidly escalate in major countries, taking a toll on investors sentiment over economic recovery.
At around 09.33 am, Sensex was trading at 43,115.42 down 241.77 points or 0.56%, while Nifty 50 was performing at 12,618.95 below 71.85 points or 0.57%.
In the pre-market opening, at around 09:01 am, Sensex was at 43262.07 down 95.12 points or 0.22% and Nifty was at 12650.40 lower by 40.40 points or 0.32%.
Gainers on the Sensex included -
Titan, Reliance Industries, Infosys, Sun Pharma and
Asian Paint surging by near 1% each.
On the other hand, the underperforming stocks on Sensex were -
IndusInd Bank (-2.49%), HDFC Bank (-1.80%),
HDFC (-1.77%), L&T (-1.71%) and Axis Bank (-1.70%).
Stocks that will remain in focus today are - Eicher Motors, Dr Reddy's Lab, banking stocks, realty stocks, Grasim Industries, RBL Bank, Power Grid, PFC, RIL and Inox Leisure among others.
Companies that are set to announce their financial performance for September 2020 (Q2FY21) quarter are - ONGC, Tata Steel, Apex Frozen Foods, Equitas Holdings, Eveready Industries, Future Retail, General Insurance Corporation of India, Graphite India, Hindustan Aeronautics, Indiabulls Real Estate, IVRCL, MMTC, NLC India, Prabhat Dairy, Repco Home Finance, Sadbhav Engineering, Satin Creditcare Network, Spandana Sphoorty Financial and Sunteck Realty. These companies will also remain in focus today on Dalal Street.
The curve of Covid-19 cases has been upward drastic in the United States (US) with some 1,42,860 new cases added in just last 24 hours, with the majority coming from Texas, Illinois, Kansas, Ohio, California and Wisconsin. Some states have decided to impose re-impose public health restrictions.
Meanwhile, European officials warned against the pandemic, stating that measures to control the virus must continue at full swing despite hopes for a vaccine under development.
Also, US Federal Reserve Chair Jerome Powell on Thursday, stated that developing Covid-19 vaccine was good news, however, near-term economic risks remain as infections expedite.
Japan's Nikkei 225 is currently down 1.03%, followed by China's Shanghai SE Composite Index which has plunged by near 1%. Hong Kong's Hang Seng drops near 0.50%, while Australia ASX All Ordinaries dips marginally. South Korea's KOSPI was trading in the green, however, on a flat note.