Indian shares inch lower in choppy trade
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BENGALURU - Indian shares fell marginally in choppy trade on Friday as investors weighed swings in crude oil prices and geopolitical events in the absence of major local triggers.
The blue-chip NSE Nifty 50 index eased 0.23% to 17,182.65 and the benchmark S&P BSE Sensex slipped 0.24% to 57,455.84 by 0401 GMT. For the week, both indexes were down about 0.5%.
Volatile crude prices and developments on the Ukraine front have kept domestic investors on edge. High oil prices make India, the world's third-largest importer and consumer of oil, susceptible to inflation.
Indians have already begun to feel the pinch after state-run fuel retailers hiked petrol and diesel pump prices three times this week. Prices of other key consumer items have also jumped as companies try to pass on costs.
In Mumbai trading, the Nifty Bank Index lost 0.29%.
The Nifty IT index and the Nifty Pharma Index fell marginally after ending more than 1% higher in the previous session.
(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Subhranshu Sahu)
