The Indian equity benchmarks staged partial recovery after moving sharply lower in Friday morning deals led by losses in HDFC, Reliance Industries, ICICI Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent in early trading and was on track for a weekly loss of 1.3 per cent, snapping three weeks of gains.
Selling pressure was broad-based as ten of 15 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Private Bank index’s nearly 2 per cent fall.
HDFC was top Nifty loser, the stock fell 3 per cent to Rs 2,812.