Sensex, Nifty may open flat; Banking, Dr Reddy’s stocks in focus

Benchmark indices BSE Sensex and NSE Nifty are likely to open on a flat to cautious note on Friday taking cues from SGX Nifty and Asian markets.

At 8.27 am (IST), SGX Nifty was marginally down 5 points, or 0.06 per cent, at 7,928.50.

Asian markets were trading in red in the morning trade. Hang Seng, Nikkei and Shanghai were down 1.01 per cent, 0.25 per cent and 0.82 per cent, respectively.

Back home, Sensex on Thursday bounced back almost 183 points to close at over two-week high of 25,958.63 as investors lapped up realty, auto and metal stocks amid hopes of a breakthrough on GST Bill in Parliament and mixed cues from global markets.

Banking stocks will reamain in focus on Friday as Fitch on Thursday said that Indian banks are stable but there will be challenges ahead for state-owned banks given weak core capitalisation and slow earnings recovery.

Dr Reddy’s Laboratories on Thursday said that the USFDA has extended the time-frame for replying to the warning letter issued to the company by about two weeks to December 7. The share price of the pharma major plunged over 8 per cent in Thurday’s trade.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)