Domestic stocks were trading lower in early trade on selling pressure in index pivotals. At 9:26 IST, the barometer index, the S&P BSE Sensex, was down 127.04 points or 0.32% at 39,402.68. The Nifty 50 index was down 32.20 points or 0.27% at 11,811.55.
The S&P BSE Mid-Cap index was down 0.66%. The S&P BSE Small-Cap index was down 0.29%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 412 shares rose and 671 shares fell. A total of 61 shares were unchanged.
Overseas, Asian stocks were trading mixed on Friday as investors waited for concrete signs of progress in the US-Mexican trade standoff, while bracing for a US jobs report that could sway the course of interest rates there.
US stocks closed higher after a choppy session on Thursday as investors grew more optimistic on trade after reports that the United States is considering a delay in imposing tariffs on Mexican imports.
Back home, Bharti Airtel fell 0.13%. Bharti Airtel said it partnered with OYO Hotels & Homes, to launch OYO Store on 'Airtel Thanks' application. Through OYO Store, Airtel customers can now seamlessly book quality and affordable accommodations directly out of the Airtel Thanks app. Additionally, customers can also make online payments seamlessly via Airtel Payments Bank.
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IndusInd Bank dropped 1.96%. The credit rating of the debt instruments issued by IndusInd Bank has been reaffirmed by IndiaRatings. The rating of infra bonds and the long term issuer rating have been reaffirmed at AA+, with stable outlook. The rating of additional tier I bonds was reaffirmed at AA with stable outlook and short term issuer rating has been reaffirmed at A1+.
Mahanagar Telephone Nigam (MTNL) lost 1.7%. Life Insurance Corporation of India (LIC) sold 1,29,65,758 shares or 2.05% of MTNL. Post sale, LIC's stake in MTNL has decreased to 15.62% from 17.68% earlier.
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