Opening Bell - Markets open lower; IT stocks drag

At 9:15 AM, the BSE Sensex opened lower by 22 points at 31196, while the Nifty50 opened lower by  9 points at the 9638 mark.

 
Reliance Industries Limited is the top Nifty gainer and Infosys is the top Nifty loser in the morning hours. RIL is trading at Rs 1348 per share up by 1.24% whereas Infosys is trading at Rs 932 per share, down by 2.56%.
 
IT stocks are trading in negative territory in the morning hours on Friday extending its Thursday’s loss. Tech Mahindra, HCL Tech, Wipro and Infosys are the top Nifty losers.
 
There are 831 advances, 823 declines and 87 unchanged stocks on NSE. The rupee opened at 64.27 per US dollar lower by 6 paise on Friday.
 
The level of 9,630 is an immediate support level for the Nifty50 index, and if it holds below the level of 9,620, it may correct up to the level of 9,570, whereas the region of 9,700-9,710 may continue to act as a barrier on the upside. 
 
Back home, Indian markets after making a positive start on Thursday, slipped in the negative terrain and ended the session with marginal losses as investors and traders preferred taking profit ahead of the UK elections and former FBI chief James Comey testimony.
 
The US stocks showed a lack of direction over the course of the trading session on Thursday. Despite the choppy trading session, the tech-heavy Nasdaq finished at a record level as other benchmarks closed higher. The Nasdaq Composite Index advanced 24 points at a record 6,322. The Dow Jones Industrial Average finished up 9 points at 21,183 and the S&P 500 closed flat at 2,434. 
 
Most of the Asian stocks are trading in positive territory in early trades on Friday. Japan’s Nikkei 225 has gained 160 points; Hong Kong’s Hang Seng has slipped 21 points, while China’s Shanghai Composite has gained 6 points.