Sensex opens 300 facets lessen, Nifty is still susceptible as banking stocks drag

Indian shares had been set on Friday for their first weekly drop in six as markets fell for a third straight session, weighed down by means of losses in banks and automakers.

The blue-chip NSE Nifty 50 index turned into 0.62% decrease at 17,509.four with the aid of 0346 GMT and the benchmark S&P BSE Sensex declined 0.sixty four% to 58,745.22.

Indian equities additionally tracked weak spot in broader Asian markets fuelled via issues surrounding global financial recovery and chronic inflationary power within the united states.

Banking stocks fell 0.8%, with ICICI bank sliding more than 1% to be among the properly Nifty 50 losers.

Auto shares were additionally buying and selling lower ahead of monthly sales statistics, with Maruti Suzuki dropping 1.6% a day after it warned that complete car production in October at two of its plant life can be around 60% of standard degrees because of a worldwide chip shortage.

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