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This Week - Weekly Sector Report
Mid-Session: Sensex flat, Nifty above 10,600; IT, metal stocks drag
Indian benchmarks continued to trade flat during the noon trading session amid weak global cues. Asian stocks dipped on Friday as Wall Street took a breather after the Federal Reserve kept intact its plans to continue raising interest rates at a gradual pace, with the fourth hike for this year expected next month.
The US Federal Reserve held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.
In stock-specific action, Bharti Airtel is trading over 2 per cent lower after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow.
At 12:36 hours, the 30-share benchmark index was trading at 35205.2 down by 32.48 points