India's stock market opened lower on Friday with Sensex declined over 60 points while Nifty traded below 11,600 in early deals, dragged by bank and financial heavyweights. Overseas, the Asian stocks edged higher after the UK and the European Union struck a long-awaited Brexit deal.
Meanwhile, On Friday, rupee opened marginally lower at 71.19 against the US dollar versus previous close 71.16.
Furthermore, oil prices were stable on Friday ahead of data that analysts say could show China, the world's largest oil importer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States. Global benchmark Brent crude oil futures fell by 9 cents, 0.2%, to $59.82 a barrel.
On the corporate front, about 22 companies, including Ambuja Cements and Reliance Industries, are scheduled to announce their Q2 earnings later today.
Sectorally, only Nifty IT and Realty indices were trading in the green. Nifty Auto index was the top loser, down 0.6 per cent. This was followed by losses in Nifty PSU Bank and Nifty Private Bank indices, down 0.4 per cent each. On the upside, Nifty IT index was trading 0.35 per cent higher.
At 9:17 hours, the 30-share benchmark index was trading at 38988.72, down by -63.34 points or by -0.16 per cent, and the NSE Nifty was at 11580.3, down by -6.05 points or by -0.05 per cent.
The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 731.25,+0.69%), Vedanta Ltd. (Rs. 149.05,+0.61%), Larsen & Toubro Ltd. (Rs. 1431.40,+0.50%), Reliance Industries Ltd. (Rs. 1402.90,+0.48%), HDFC Bank Ltd. (Rs. 1225.75,+0.41%), among others.
On the flip side, the top losers of the BSE Sensex pack were YES Bank Ltd. (Rs. 46.65,-1.58%), IndusInd Bank Ltd. (Rs. 1325.05,-1.10%), Mahindra & Mahindra Ltd. (Rs. 587.70,-0.92%), Housing Development Finance Corporation Ltd. (Rs. 2070.20,-0.86%), Oil And Natural Gas Corporation Ltd. (Rs. 140.25,-0.78%), among others.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 798 , shares advanced were 431 while 335 shares declined and 32 were unchanged.