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Sensex, Nifty Extend Declines Ahead Of US Jobs Report
(RTTNews) - Indian shares fell notably on Friday to extend losses for a third day running as signs of hot U.S. labor market data lifted the dollar and yields.
Mixed global cues and caution ahead of earnings results from top IT companies due next week also kept investors on tenterhooks.
The benchmark S&P/BSE Sensex ended the session down 452.90 points, or 0.7 percent, at 59,900.37 while the broader NSE Nifty index fell 132.70 points, or 0.74 percent, to 17,859.45.
Metal, IT and financial stocks led losses, with Tech Mahindra, Bajaj FinServ, IndusInd Bank, TCS and JSW Steel all falling around 3 percent.
On the positive side, Britannia, Reliance Industries and Mahindra & Mahindra rose around 1 percent each.
The rupee gave up early gains as the dollar held near an almost one-month high ahead of key U.S. jobs data due later in the day that could provide additional clues on how aggressive the Federal Reserve will be in tightening policy.
Oil prices were steady in European trade after seeing a rebound the previous day as data from Energy Information Administration (EIA) showed gasoline and distillate stockpiles dropped in the week ended December 30th.
Crude prices opened the year down nearly 10 percent before recovering some ground on Thursday.
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