Indian stock indices decline marginally in opening trade

New Delhi [India], February 10 (ANI): Indian stocks opened Friday’s trade with marginal losses compared to the previous session closing, with Nifty IT and Nifty oil and gas indices losing the most. The two indices declined about 0.7-0.9 per cent at the time of writing this report.

Meanwhile, the key indices — Sensex and Nifty – inched 0.2-0.3 lower. Among the Nifty 50 stocks, Adani Enterprises, HCL Technologies, Hindalco, Tata Steel, and Wipro were the top losers. On the contrary, UPL, LT, HDFC Life, M&M, and ITC were the top five gainers.

“With the Budget, monetary policy and earnings season behind us, there are no major triggers to take the market forward. Rallies are likely to be sold into since FIIs have been sustained sellers in the market from the beginning of 2023,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Going ahead, the investors await inflation data updates from both the US and UK, expected next week.