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)
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With the crucial GDP data scheduled to be announced along with key corporate results, volatility is expected to prevail in the upcoming week. Disappointment on these fronts may push the Nifty down to the 7,200-7,500 range. Once we witness stability and consolidation, investors should increase their exposure, says Ambareesh Baliga. Full article