Nifty, Sensex open flat, slip to red day after fresh record highs

Stock market news: Benchmark indices opened flat on Friday as rally to record highs in previous session lost steam. Nifty 50 opened at 25,430.45, marginally higher than previous close of 25,388.9. Sensex opened at 83,091.55 against previous close of 82,962.71.

As of 9:40 am IST, 30-share S&P BSE Sensex was tring 166.6 points (0.22 per cent) lower at 82,796.11 while broer NSE Nifty 50 was tring 57.1 points (0.22 per cent) lower at 25,331.80.

Indian shares are witnessing a mild pullback after scaling fresh record highs in previous session. GIFT Nifty h indicated a flat opening near Thursday's record closing level but markets have slipped into red.

Both Nifty and Sensex jumped close to 2 per cent on Thursday, riding on foreign inflows and hopes of a rate cut in China to revive consumption. Foreign portfolio investors net purchased Indian equities worth Rs 76.95 billion, most since June 19.

Economic Data

India's retail inflation in August stayed lower than central bank's tolerance level of 4 per cent for second month in a row. Still, an uptick in food prices took some steam out of hopes of deeper rate cuts common in global markets.

Asian Highlights MSCI Asia ex-Japan was up 0.6 per cent in early tre, and Wall Street equities closed higher, as Fed seen cutting rates by 25 basis points next week after producer price index data showed a slower-than-expected increase in wholesale inflation.