Opening Bell: Nifty, Sensex open flat; IT shares decline most

Domestic equity market started last trading day of the week on a flat note after it sanpped three days winning streak on Thursday. 

The broader Nifty50 remained below 17,600 while the Sensex opened flat with positive bias. The two indices opened at 17,590.20 and 58,918.65 , only to slip further minutes after opening.  

See Zee Business Live TV Streaming Below:

Rupak De, Senior Technical Analyst at LKP Securities, said going forward, the 17530-17500 zone may act as near term support; bounce is likely if Nifty holds above 17500. "The trend is expected to remain positive as long as Nifty remains above 17400 on closing basis," he added. 

Infosys, TCS, Reliance, Wipro, Eicher Motors, HCL Tech, RIL, Bajaj Finance and Tech Mahindra slipped the most.  

ONGC, ITC, Powergrid, Tata Consumer, Titan, Tata Steel, Grasim, HDFC Bank, Sun Pharma and Mahindra and Mahindra were some gainers on the two indices. 

In the pre-open, the Sensex opened higher by at 130.63 points or 0.22% to 58,918.65 as 22 shares advanced and 8 declined on the 30-share index.  

Earlier, in a good signal for the domestic stock market, SGX Nifty Futures gained on the Singaporean Exchange as the index rose by 79 points or 0.45% to 17,598 at around 9 am on Friday. 

Meanwhile, Asian markets were trading mixed on Friday morning. Japanese Nikkei 225 was trading flat with negative bias, Hang Seng Index at the Hong Kong Exchange was up 2.25% as it resumed trading after long holiday, while there was no trading seen on Shanghai Coposite even on Friday.  

Earlier, Meta`s stock fell 26%, erasing more than $200 billion in the biggest ever single-day market value wipeout for a U.S. company, and pulling down the US markets after a good run in the first half of the week. Dow Jones ended lower by 1.45%, Nasdaq declined 3.74%, S&P500 eroded by 2.44% and Russell 2000 tanked 1.90% on Meta's crash.