Indian Stock Markets were trading lower on Friday. The BSE Sensex was down by 174 points at 11.15 am IST while NSE Nifty was down by 54 points at 5173.

Among most active stocks, banking counters were trading lower. SBI was down by 1.6%, PNB down by 0.71%. Biggest Private Sector lender ICICI Bank was down by 2.1% at Rs 938.

Technology services provider Mahindra Satyam announced its results yesterday. The company performed better than analysts’ expectations. The stock touched 52-week high of Rs 91.85 in today’s trading session with record trade of 14 million shares on NSE till 11.15 am. The stock was currently higher by 6 per cent at Rs 88.75.

Among major gainers were Pharmaceutical counters. Dr Reddy’s Labs was higher by 1.4% followed by Ranbaxy Labs and Cipla.

Asian markets were trading lower as well. Nikkei 225 was down by 1.1%. Hang Seng was lower by .93 per cent. Straits Times was marginally lower.

USD gained further ground compared to Indian currency. USD-INR was trading at 56.14 with a difference of 0.54 per cent. Euro-INR was at 68.39.

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