The Indian equity flip-flopped between gains and losses on Friday as gains in Infosys, Tata Consultancy Services, Kotak Mahindra Bank and Larsen & Toubro were offset with losses in ICICI Bank, Reliance Industries, HDFC Bank, State Bank of India and IndusInd Bank. The Sensex moved in range of 150 points and Nifty 50 index touched an intraday high of 17,992 and low of 17,939.
As of 9:32 am, the Sensex was down 39 points at 60,259 and Nifty 50 index slipped 13 points to 17,943.
Asian markets were trading on a mixed note with Japan's Nikkei up 0.07 per cent, Hing Kong's Hang Seng rose 0.12 per cent, Taiwan Weighted declined 0.1 per cent and South Korea's KOSPI fell 0.2 per cent.
Overnight, Wall Street ended with modest gains for stocks Thursday and the benchmark S&P 500 barely back into the green for the week.
The S&P 500 rose 0.2 per cent after shifting between small gains and losses for much of the day. It’s now up 0.1 per cent for the week.
The Dow Jones Industrial Average managed a 0.1 per cent gain, while the Nasdaq rose 0.2 per cent as technology companies gained ground.
Back home, eleven of 15 sector gauges compiled by the National Stock Exchange were trading lower led by Nifty PSU Bank index's 1 per cent decline. Nifty Realty, Private Bank, Healthcare, Pharma, FMCG, Auto and Bank indices also fell between 0.3-0.7 per cent.
On the other hand, IT shares were witnessing buying interest as the gauge of IT shares on the NSE rose over 1 per cent. Media and Metal stocks were also witnessing buying interest.
Mid- and small-cap shares were trading on a mixed note as Nifty Midcap 100 index fell 0.12 per cent and Nifty Smallcap 100 index advanced 0.1 per cent.
Tech Mahindra was top Nifty gainer, the stock rose 2.3 per cent to Rs 1,130. Adani Ports, Kotak Mahindra Bank, ONGC, HCL Technologies, Wipro, Larsen & Toubro, TCS, Infosys, Eicher Motors and UltraTech Cement were also among the gainers.
On the flipside, IndusInd Bank, Apollo Hospitals, HDFC Life, Coal India, Maruti Suzuki, NTPC, Bajaj Finance, ICICI Bank, Cipla, Britannia Industries and Tata Consumer Products were among the losers.
The overall market breadth was positive as 1,759 shares were advancing while 1,106 were declining on the BSE.
