Mumbai: Indian benchmark equity indices, Sensex and Nifty, opened in the red on Friday, weighed down by index heavyweights in the banking and IT sectors, as investors awaited key GDP data and reacted to fresh comments from US President Donald Trump on tariffs.
The BSE Sensex crashed 1,000 points, or 1.34%, to 73,602, while the Nifty50 declined to 22,270 level around 10 am, the Economic Times reported.
As per information, the market capitalisation of all listed companies on the BSE dropped by Rs 7.16 lakh crore to Rs 385.94 lakh crore.
Nifty IT index stocks fell by up to 4% in early trade, tracking overnight losses on Wall Street following a slump in chipmaker Nvidia.
Major losers included Persistent Systems, Tech Mahindra and Mphasis, the report said.
Meanwhile, the Nifty Auto index opened more than 2 per cent lower, while the Nifty Bank, Metal, Pharma, Consumer Durables, and Oil & Gas indices declined by 1-2 per cent.
Growing concerns over slowing economic growth, weakening earnings momentum, Trump’s tariff policies, and persistent selling by foreign investors appeared to have pushed benchmarks down 14% from record highs in late September.
Amid this scenario, investors seem to be closely watching the December quarter GDP data, set for release after market hours on Friday.
