Sensex Edges Lower, Nifty Hovers Around 9,600; Metal Stocks Drag

Indian shares edged lower on Friday tracking muted global cues. The Sensex fell nearly 45 points after opening 60 points higher and the NSE benchmark Nifty was down nearly 30 points to hover around the 9,600 mark.

Except IT and pharma stocks, selling pressure was visible across the sectors. Metal Stocks were the worst hit in today's trade with the Nifty Metal sub-index falling 0.75 per cent. Hindalco, Tata Steel, Sail were the biggest losers in the metals index falling between 0.8-1.5 per cent.

Among Nifty stocks, Indiabulls Housing Finance was the top loser, down 2.48 per cent. HeroMoto Corp, Indian Oil, Adani Ports, Tata Power and Hindalco were the other prominent losers in the Nifty.

Meanwhile, Lupin was the top gainer in Nifty, up 1.42 per cent followed by Aurobindo Pharma, Mahindra & Mahindra, Sun Pharma, which rose between 0.6-1.2 per cent.

As of 9:40 am, Sensex was down 43 points at 31,247.50 and the Nifty traded 24 points lower at 9,606.45. Out of the 51 stocks in the Nifty basket, 16 shares traded higher while 35 were down.

Elsewhere, other Asian shares traded mixed. Japan's Nikkei was up 0.13 per cent, Shanghai Composite fell 0.74 per cent while Hang Seng edged 0.06 per cent higher.

Overnight, US shares put in a mixed performance, though the S&P healthcare index rose 1 per cent and hit its fifth consecutive record close following the release of Senate Republicans' bill. (With agency inputs)