Indian bourses open flat on Friday, auto stocks in focus: Report

The Indian stock market opened near the flatline on Friday on risk aversion ahead of a key US jobs report, which could influence the Federal Reserve's rate decision later this month.

The Nifty 50 index was up 0.08 per cent at 19,270.15 at 9:15 am IST, while the S&P BSE Sensex rose 0.04 per cent to 64,841.50.

Meanwhile, Nifty Bank started the session 0.02 per cent higher at 43,996.10, and Nifty Midcap Index opened 0.08 per cent at 39,148.40.

Before the market opened, the trends on Gift Nifty indicated a tepid start for the Indian benchmark index, according to reports. 

Reports also suggested auto stocks will remain in focus today. ONGC, Tata Steel, and M&M are among major gainers on the Nifty, while losers are Adani Ports, Adani Enterprises, and Asian Paints.

India announced its Q1 GDP numbers, on August 31. The country remains to be the fastest growing major economy of the world in the first quarter of the current financial year (Q1FY24). India's gross domestic product (GDP) rose at 7.8 per cent in the first quarter of the current financial year compared with growth of 13.1 per cent during the same period last year. Sequentially, India's GDP rose sharply from 6.1 per cent in the previous quarter.

(With inputs from Reuters)