Market Reality
India's equity markets, long buoyed by strong economic growth and rising corporate earnings, are now facing a sharp and prolonged correction.
Sensex and Nifty traded slightly lower during the early trade on Friday ahead of the release of key data points, Consumer Price Index (CPI) and Index of industrial production (IIP).
IIP data for May and CPI inflation for June will be released on Friday. Investors will also take cues from the trade data to be released by China later in the day.
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At 9.39 a.m., the Sensex traded 39.91 points lower at 38,783.20 while the Nifty was down 4.60 points at 11,578.30.
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Sensex opened at 38,941.10 from its previous close of 38,823.11.
Besides, investors on Friday will await the quarterly results of IT major Infosys.
Markets were in buoyant mood on Thursday as US Fed Chairman Jerome Powell gave his strongest indication yet that the Federal Reserve will slash interest rates at the July 30-31 meeting, said Deepak Jasani of HDFC Securities.
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