Sensex Nifty Trade Lower, TataMotors Falls After Moodys downgrade

Friday market starts negative for benchmarks after a significant rally seen in the previous day.

The Indian currency slipped in the opening trade by 31ps at 69.75 per dollar as against previous close of 69.44.

On commodity watch, CrudeOil prices rose on hopes for a fall in the U.S interest tariff that may boost global growth.

Back home, the domestic benchmark BSE Sensex is down 136 points at 39465-level and the Nifty down 33.80 points at 11797.95 at 09:35am.

Yesbank, TataMotors, Indiabulls Housing, MarutiSuzuki and Zee Entertainment were major laggards on Nifty50 while  gainers were UPL, Grasim, AdaniPorts, Hindalco and Vedanta.

All the Nifty sectoral indices, except Metal and PSU bank, are trading lower led by major  falls in Nifty Pharma (down 1.19%), Nifty Realty (down 1.16%), and Nifty Auto (down 1.04%).

Among top buzzing stocks, TataMotors falls 1.76% after Moody’s Rating agency downgraded its corporate status.

Shares of APLApollo Tubes  falls 0.60% at Rs.1536.05  after Crisil reaffirmed its ratings.

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