Sensex, Nifty Open Lower On Concern Over US Job Losses

(RTTNews) - Indian shares followed global peers lower on Friday as weak U.S. private sector jobs data from Challenger, Gray & Christmas added to concerns about an AI bubble and the possibility of a near-term correction.

Concerns about a divided Federal Reserve on the path for December rate decision also dented investors' appetite for riskier assets.

The benchmark BSE Sensex was down 419 points, or half a percent, at 82,892 in early trade, while the broader NSE Nifty index dropped 133 points, or half a percent, to 25,373.

Bharti Airtel slumped 4 percent amid reports that Singapore Telecommunications (Singtel) will sell a portion of its stake in the telecom major through a large block deal.

Tech Mahindra, NTPC, TCS, SBI and HCL Technologies were down 1-2 percent.

Infosys fell about 1 percent after announcing the record date for its Rs 18,000-crore share buyback.

GSK Pharma declined 2.5 percent as it reported flat earnings on a 3 percent drop in Q2 revenue.

Hindustan Construction Company tumbled 3.7 percent after quarterly consolidated net profit declined 25 percent from last year.

Crompton Greaves lost 2.3 percent on disappointing results with net profit falling 43 percent year-on-year.

LIC shares rose 1.3 percent after the insurer reported a 32 percent year-on-year increase in its quarterly standalone net profit.

Lupin gained 1.2 percent on reporting a 73 percent jump in its quarterly net profit.

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