Indian shares set for worst week since November, Reliance results in focus
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BENGALURU - Indian shares opened sharply lower on Friday and were headed for their worst week since late-November, weighed down by technology and banking stocks, while investors awaited results from a slew of companies including heavyweight Reliance Industries.
The blue-chip NSE Nifty 50 index was down 1.16% at 17,551.2 by 0354 GMT, while the S&P BSE Sensex dropped 1.18% to 58,7641.7, their lowest levels since early-January.
The indexes are on track for weekly losses of around 4% each.
The Nifty IT index plunged 2% as IT major Infosys slid 2.5% to its lowest since mid-December, while the Nifty Bank index dropped 1.7%.
Meanwhile, Shoppers Stop jumped 17.6% to its highest since July 2019 after the department store chain swung to a profit in the third quarter.
Reliance Industries, JSW Steel, HDFC Life Insurance and SBI Life Insurance slipped ahead of their earnings reports.
