Markets trade flat in opening trade; media stocks plunge

The sectoral trend was mixed, with Auto leading gains, while Nifty Media plunged over 3% in early trade.

Sep 20, 2019 03:09 IST India Infoline News Service

Indian equity markets opened marginally higher on Friday tracking Asian markets, which responded to monetary policy easing across the globe. Thursday saw both the benchmark indices losing heavily on reports of a consumption slowdown in the country and middle east tensions.

At 9.26AM, the Sensex traded marginally higher by 26 points at 36,199, while the Nifty was flat around 10,700.

The sectoral trend was mixed, with Auto gaining the most, while Nifty Media plunged over 3% in early trade.

Media stocks were dragged by ZEEL and Den Networks, down ~5% each.

Yes Bank, Indiabulls Housing, and HDFC Bank were among the top gainers on the NSE, while Zee Entertainment Enterprises, NTPC, and IOC were the top losers.

Shares of Yes Bank were up 3% after cracking over 15% in the previous session. HDFC Bank shares traded ex-split yesterday, with the CMP being up 1% currently.

Shares of IIFL Securities get listed on the exchanges today.

Meanwhile, the broader markets traded lower. India Vix was at 15.74, up by 1.23%.

The rupee opened higher by 12 paise at 71.20/$ vs. Thursday's close of 71.32/$. International Brent crude futures hovered around $65/bbl, as middle east tensions escalated. 

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