New Delhi: After spectacular rally on Thursday, the markets could not manage to maintain its momentum, as the bulls were little sluggish during the opening trade.
At 0956 hrs, IST the Sensex was down 59 points at 13248 and Nifty was down 6 points at 3868. Major gainers in the opening trade were SBI, Rel Comm, NTPC and Maruti. However, ITC, Infosys, PNB, Rel Cap and Reliance were trading weak.
The BSE-30 share index, which had gathered almost 900 points this week so far, gained 35.54 points at 13,343.57 at the outset.
Similarly, the Nifty index on the wide-based National Stock Exchange, was up by 15.60 points at 3,891.50.
Stockbrokers said government's decision to hike FDI in the fast-growing telecom sector to 74 per cent from 49 per cent, boosted the trading sentiments, triggering fresh buying in telecom sector stocks.
Major gainers in the telecom sector were Reliance Communications, Bharti Telecom, MTNL and Tata Tele.
However, Reliance Industries, Tata Steel and banking stocks were in the negative zone on profit taking.
Meanwhile, stocks of India Bulls Real Estate were listed at Rs 405 on the stock exchange.
Japanese stocks were little changed in morning trading on Friday, as investors consolidated gains after shares ended at a three-week high in the previous session, although export-related shares such as Sony Corp. advanced as the yen continued on its recent weakening trend against the dollar.
Japan's Nikkei advanced 0.20 per cent or 34.33 points 17,453.53, Taiwan's Taiwan Weighted rose 0.37 per cent or 28.86 points at 7,852.53. However, Hong Kong's Heng Seng was down 0.16 per cent or 30.76 points at 19,659.49, Singapore's Straits Times plunged 0.21 per cent or 6.85 points at 3,212.66 and South Korea's Seoul Composite declined 0.17 per cent or 2.52 points at 1,446.01.
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