Key Indian equity indices traded in the red after a flat opening on Friday, triggered by negative Asian markets.
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At 9:15 AM, the S&P BSE Sensex is trading at 27,237 up 35 points, while NSE Nifty is trading at 8,334 mere three points.
Tata Steel slid half a percent on a report it has put on hold plans to sell off its United Kingdom assets.
The 30-scrip Sensex of the BSE, which opened at 27,209.97 points, closed at 27,201.49 points – up 34.62 points or 0.13% from the previous close at 27,166.87 points.
The recovery also got support from gains in Dr Reddy’s, HDFC, HDFC Bank, Power Grid, ITC, Cipla, NTPC, Axis Bank and Sun Pharma, rising by up to 2.97 per cent.
IT stocks took a hard knock: The BSE IT index tanked 1.63 per cent and the BSE Teck index 1.58 per cent.
Tata Steel was the top loser, down 4.92% at Rs 317.65, followed by Tata Consultancy, down 2.16% at Rs 2,429.05, Coal India, down 1.96% at Rs 315.45 and Adani Ports, down 1.84% at Rs 210.40.
Shares of Lupin zoomed 6.25 per cent and emerged the top gainer in the Sensex pack, as it got the establishment inspection report from USFDA for the Goa plant.
Claris Lifesciences surged 7.3 percent after the pharmaceutical company received the Abbreviated New Drug Application approval for Tobramycin injection on Wednesday.
From the Nifty basket, 30 stocks were declining while 21 were advancing.
Among the gainers, Punjab National Bank jumped 3.07 percent after its unit PNB Housing Finance filed for a 25-billion-rupee initial public offer.
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Global markets were mixed: Elsewhere in Asia, China’s Shanghai Composite ended 0.01 per cent lower and Japan’s Nikkei ended with 0.67 per cent loss while Hong Kong’s Hang Seng index gained 1.03 per cent. HDFC has gained 2.2% and Dr Reddy’s Laboratories is up almost 2%.
