Asian shares steadied on Friday and the dollar took a breather after its recent broad rally spurred some profit taking. The MSCI Asia Pacific ex-Japan index was barely changed and Japan’s Nikkei opened down 0.1%.
Most of the sectors are trading flat. Auto shares are down with Tata Motors, M&M in red. Some of the private banks are also in the negative zone. Mid-cap index has also seen a lacklustre opening.
However, Tata Motors, M&M and Maruti were down 1-1.5% as market experts feel that there may be excise duty on diesel cars.
Reliance Industries and Kotak Mahindra Bank too were down.
Jain Irrigation rose 3% ahead of likely outcome on agricultural sector in the Budget.
Kingfisher was up 3%. Infrastructure stocks like GVK Power and GMR Infra too gained over 1%.