Selling pressure continues on the market dragged by capital goods, pharma and IT stocks. The Sensex is down 130.97 points or 0.5 percent at 25131.24, and the Nifty is down 33.75 points or 0.4 perecnt at 7701.75. About 937 shares have advanced, 1070 shares declined, and 117 shares are unchanged.
SBI, GAIL, Bharti Airtel, Hindalco and ICICI Bank are top gainers while Adani Ports, Dr Reddy's Labs, Lupin, Wipro and HDFC are losers in the Sensex.
Crude prices dipped as traders await a closely watched US jobs report that could provide clues on the health of the world's biggest economy and the direction of interest rates.
The non-farm payroll report due for release later in the day could determine when the Fed lifts borrowing costs, which would affect the dollar and, in turn, demand for oil.
Speculation that US central bank could raise rates at its June meeting was sparked this week after two Federal Reserve regional heads expressed support for such a move.
ITC is leading the decline and is down 1.5% after the company plans to shut its cigarette factories from May 04, 2016 until the Company is in a position to comply with the mandatory pictorial warnings on packages of tobacco products.
Banks and non-banking finance companies are trading mixed. The Reserve Bank of India (RBI) on Thursday proposed granting on-tap universal banking licences to individuals, groups or entities and companies. In the NBFC pocket, HDFC, Srei Infrastructure Finance, Shriram Transport, Cholamandalam Investment are trading higher up to 1%. However, in the banking space, SBI and Bank of Baroda are trading higher by 0.3% each.
Bharti Airtel has emerged as the top gainer and is up 1% after the company said it has entered into an agreement with Helios Towers Africa (HTA) for divestment of about 950 towers in the Democratic Republic of Congo (DRC).
NDTV has surged 5% in a falling market after the media company returned to profit after posting Rs 7.5 crore net profit in the March quarter, 2016 after posting Rs 10.7 crore net loss in the same quarter last year.
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