Sensex, Nifty Slide On Weak Global Cues
(RTTNews) - Indian shares opened lower on Friday amid inflation and growth worries as oil prices continued to climb and the World Bank cut India's GDP growth forecast for the fiscal year 2022-23.
Global cues remain sluggish as caution prevailed ahead of the all-important U.S. jobs data due later in the day.
The benchmark S&P BSE Sensex dropped 230 points, or 0.4 percent, to 57,990 in early trade, while the broader NSE Nifty index was down 75 points, or 0.4 percent, at 17,257.
Among the prominent decliners, ICICI Bank, Tata Steel, Hindalco, Eicher Motors and BPCL fell 1-2 percent.
Dabur India was down about 1 percent after a profit warning.
Sakar Healthcare jumped 5 percent after it entered into an agreement with Zydus Life Sciences to manufacture anti-cancer products.
Indian Hume Pipe soared nearly 9 percent on winning an order worth 1.94 billion rupees.
Quess Corp rallied 2 percent after divesting stake in unit Simpliance Technologies.
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