Market Live: Sensex down over 100 points, Nifty below 11450; pharma stocks hit

Market Opens: It’s a flat start to the market on this Friday morning, with the Nifty trading around 11,450 in the opening tick, while the Sensex has breached 38,000.

At 09:15 hrs IST, the Sensex was up 6.56 points or 0.02% at 38030.93, while the Nifty was down 6.30 points or 0.05% at 11464.40. The market breadth is positive as 394 shares advanced, against a decline of 176 shares, while 55 shares were unchanged.

Investors are booking profits in banks as well as indulging in fence-sitting ahead of State Bank of India’s results. IT and metal stocks are witnessing some strength, while the midcap index is trading flat with a positive bias.

Shares of Jet Airways tanked 10 percent after the airline has deferred its results and its audit panel refused approval to its results.