Reuters Market Eye - The Sensex and the Nifty fall around 0.3 percent. Shares extended their fall, led by a decline in banking stocks, after preliminary data released on Thursday showed India's slowest growth in a decade could be worse than anticipated as the economy is set to have grown 5 percent in fiscal year ending next month.
ICICI Bank (ICBK.NS) down 0.9 percent, while State Bank of India drops 1 percent.
Shares in Cipla Ltd (CIPL.NS) fall 2.8 percent, a day after the company's October-December net profit missed estimates.
State-run power utility NTPC Ltd's (NTPC.NS) shares fell 2.3 percent after the floor price of its share sale, scheduled later in the day, was set at 145 rupees, or a 4.5 percent discount to its Wednesday's close.
(Reporting by Abhishek Vishnoi)
Trending On Reuters
For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. But after political compromises that finally got a goods and services tax (GST) bill before parliament, they have turned wary. Full Article