Domestic share markets opened lower on Thursday, dragged by financials, with broader Asian markets slipping as global investors fretted over a setback to US stimulus talks.
The NSE Nifty 50 index fell 0.43 per cent to 11,886.20 by 9.15 am, while the S&P BSE Sensex was down 0.4 per cent at 40,544.09.
Global investor sentiment took a fresh hit over talks to boost the world’s largest economy after US President Donald Trump on Wednesday accused Democrats of being unwilling to craft an acceptable compromise on stimulus, following reports of progress earlier in the day.
Meanwhile, a poll by news agency Reuters forecast that the economy was set for a near double-digit contraction this fiscal year and that a recent stimulus would not be enough to significantly boost economic activity.
The Nifty Bank index was down 0.8 per cent, led by a 0.4 per cent decline in shares of HDFC Bank.
Shares of Aurobindo Pharma slipped 2.1 per cent after the drug maker’s unit got a warning letter from the US FDA for a manufacturing facility in New Jersey.
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