Key benchmark indices trading lower in early morning trade. The BSE Sensex trading at 28765.78 down 74.75 points (-0.31%) and NSE Nifty at 8866.15 down 33.70 points(-0.38%).
The Market breadth indicating the overall health of the market is flat .On NSE there are 24 shares in advance where 26 shares in decline. Total Unchanged 1 share.
Reliance, Infratel, Grasim, Hindalco and Gail are gainers while ITC, HDFC, BPCl, Zeel and Infy are losers in the Sensex.
RIL was up 3.11%. The Mukesh Ambani-led promoter group, which owns a near-majority in RIL, plans to shrink the number of firms owning shares of RIL through an internal sale to other holding companies. Eight promoter group companies of RIL will acquire 118.99 crore shares, or 36.70%, from 15 other promoter group firms in an inter se transfer for Rs 1.30 lakh crore, promoters of the company told the stock exchanges after market hours yesterday, 3 March 2017. The transaction will be at Rs 1,100.78 a share, a discount of 10.75% to RIL's Thursday's closing price of Rs 1,233.25. The sale will not affect overall promoter holding in RIL.
The Indian rupee opened lower at 66.87 on Friday as previous close of 66.71 against the US Dollar.