Mumbai: The key Indian equity indices declined Friday morning, with the BSE Sensex losing over 200 points.
Selling pressure was witnessed in banking and IT stocks.
At around 10.10 a.m., Sensex was trading at 49,353.38, lower by 230.78 points or 0.47 per cent from its previous close of 49,584.16.
It opened at 49,656.71 and has touched an intra-day high of 49,656.71 and a low of 49,182.38 points.
The Nifty50 on the National Stock Exchange was trading at 14,528.80, lower by 66.80 points or 0.46 per cent from its previous close.
Manish Hathiramani, technical analyst, Deen Dayal Investments said: “The resistance patch of 14,600-14,650 has been very effective. The markets are finding it difficult to move up. We need to get past 14,700 in order to resume this uptrend.
“If the market manages to cross that level, the index should go up to levels closer to 15,000. On the flip side if we break the support of 14,350, we can drop to 14,000.”
The top Sensex gainers were Bharti Airtel, Tata Steel and Bajaj Finance, while the major losers were Asian Paints, Tech Mahindra and HCL Technologies.