Sensex, Nifty Tumble Ahead Of US Jobs Data
(RTTNews) - Indian shares tumbled on Friday, tracking weak cues from global markets after U.S. private payrolls data showed the weakest growth since 2021, heightening fears of a slowing labor market.
All eyes now remain on the all-important U.S. jobs report due later in the day that could offer additional clues on the outlook for interest rates and the economy.
Comments from influential Fed governor Christopher Waller and New York Fed President John Williams might also provide clearer insight into the potential scale of an anticipated rate cut this month.
The benchmark S&P/BSE Sensex fell 1,017.23 points, or 1.24 percent, to 81,183.93 on profit taking after reaching record levels in recent sessions.
The broader NSE Nifty index fell by 292.95 points, or 1.17 percent, to 24,852.15. SBI led losses to close 4.3 percent lower after U.S. investment bank Goldman Sachs recommended selling its shares.
HCL Technologies, NTPC, ICICI Bank and BPCL all fell around 2 percent.
Wockhardt lost 5 percent after Congress spokesperson Pawan Khera accused SEBI chairperson Madhabi Puri Buch of receiving rental income from a firm linked to the company.
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