Sensex drops 0.5% in opening trade

BSE Sensex and NSE Nifty opened weak on Friday. The two indices lost between 0.3% to 0.5% each. Pharma, auto, metals and telecom stocks are to be watched today.

BSE. Representational image: Pic: Zeebiz

BSE Sensex dropped over 145 points or 0.55% in opening trade on Friday.

Extending gains for the fourth session, the rupee appreciated by another 5 paise to 68.29 against the US dollar in early trade today on continued selling of the American currency by banks and exporters.

Forex dealers said the dollar's weakness against some currencies overseas led to the rupee upmove.

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At 906 hours, Sensex was trading at 26,440.32 points.

S&P BSE 100 was down 0.39%, followed by BSE 200 with a 0.34% fall. BSE Midcap and Smallcap were down 0.07% and 0.09%, respectively.

NSE Nifty was weaker by 0.38%, down 31.60 points. There were 19 advances and 32 declines on Nifty.

Top gainers during opening trade included Eicher Motors which was up 3.15% after the company announced good sales for the month of November.

GAIL was up 3%, followed by Hero Motocorp and Sun Pharma with 2.08% and 1.71%, respectively.

Top losers on Nifty wer Idea Cellular (4.97%) which reacted to Reliance Jio's extension of free offer till March 2017. Power Grid Corp, Asian Paints, Hindalco and Tata Motors fell 4%, 3%, 2.36% and 2.35%, respectively.

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(With PTI inputs)

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