Sensex rose over 200 points in early trade on Friday (Photo Credit: PTI File)
Markets Live: Indian markets slipped into red after a positive start on Friday. The equity benchmark BSE Sensex rose over 200 points in early trade led by gains in index heavyweights Infosys, ITC, HDFC Bank, ICICI Bank and SBI, amid mixed domestic cues. It hit a high of 39,241 in opening trade while NSE Nifty advanced upto 11,646. However, the gains did not last long as both Sensex and Nifty surrendered the leads and fell sharply.
At 10:20 am, the Sensex traded 5.08 points lower at 39,015.31 while the Nifty was down 5.00 points down at 11,577.60.
In the previous session on Thursday, the 30-share Sensex ended 38.44 points, or 0.10 per cent, lower at 39,020.39. The broader NSE Nifty slipped 21.50 points, or 0.19 per cent, to 11,582.60.
According to experts, mixed news flow on the domestic front is likely to keep the market volatile throughout the day.
Supreme court's to allow the Centre to recover dues of about Rs 92,000 crore from telcos has shaken the telecom companies, as well as their lenders like private and public banks, said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.
Also, assembly elections results were little below expectations that has increased short term nervousness in the market, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a tepid note. On Wall Street, stock exchanges finished in the green on Thursday.
The rupee, meanwhile, appreciated 6 paise against the US dollar to trade at 70.96 in early session.