The Indian market traded lower on Friday morning, tracking weak global cues as slowdown concerns came back to haunt investors amid weak corporate earnings. Auto, media and public sector banks were particularly under selling pressure, while realty, power and consumer durables saw some amount of buying.

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At 9.54 am, the Sensex was trading lower by 183 points, or 0.5 percent, at 36,788. The Nifty lost 50 points, or 0.45 percent, to trade at 11,019.55.

Broader indexes also traded weak with the Nifty MidCap index falling 0.45 percent. The Bank Nifty was down by 0.47 percent.

Nifty Auto fell over 2 percent, dragged by Tata Motors, which fell as much as 30 percent to its lowest since February 2010 after reporting a consolidated loss of more than Rs 26,000 crores in its third quarter results on Thursday.

The auto gauge was the worst among 29 falling sectors. BSE Realty surged over a percent leading the 14 advancing sectors.

Vedanta, Zee Entertainment, Tata Steel and Bharti Airtel slipped between half a percent and 2 percent. Titan, Grasim, Cipla, IndusInd Bank and HCL Technologies gained between half a percent and 1.5 percent.

Meanwhile, the rupee extended previous session’s gains and opened higher against the US dollar at 71.38

. The home currency had settled at 71.45 against the greenback on Thursday.

Asian stock tracked overnight losses on Wall Street with Japan's Nikkei down almost 2 percent. Hong Kong's Hang Seng slipped half a percent, while South Korea's Kospi lost a percent. Markets in the mainland China and Taiwan were shut owing to extended Lunar holidays.

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First Published:Feb 8, 2019 10:09 AM IST