Indian shares slipped on Friday, dragged by banks and IT stocks, with sentiment also hit by weak global markets on renewed concerns about COVID-19.
The blue-chip NSE Nifty 50 index was down 0.26% at 17,471.85 by 9:17 am, while the benchmark S&P BSE Sensex fell 0.35% to 58,605.91.
The Nifty IT and bank indexes were among the biggest drags, both down about 0.27% in early trade.
Among individual stocks, cigarettes-to-hotel conglomerate ITC was the top performer on the Nifty50, rising about 1.32%, while Reliance Industries was among the worst performers, down 0.65%.
India’s Star Health and Allied Insurance Co will make its market debut on Friday. The firm had cut its IPO size after failing to attract investor interest.
Meanwhile, Asian shares fell amid renewed worries over COVID-19 and ahead of key U.S. inflation data that could set direction on Federal Reserve rates.