Sensex, Nifty Snap 8-day Winning Streak; Automakers Top Losers
Indian shares fell notably on Friday to snap an eight-day winning streak, with auto, FMCG and IT stocks leading losses.
Benchmark indexes fell from record highs as caution prevailed ahead of key U.S. jobs data due later in the day that is expected to show a sizable slowdown in hiring.
Recession fears returned to haunt investors after data released on Thursday showed global factory output fell widely last month, with U.S. manufacturing declining for the first time since May 2020.
The benchmark S&P BSE Sensex fell 415.69 points, or 0.66 percent, to 62,868.50 after eight consecutive sessions of gains and a record-breaking closing streak of six days.
The broader NSE Nifty index settled 116.40 points, or 0.62 percent, lower at 18,696.10.
Among the prominent decliners, Hindustan Unilever, Hero MotoCorp, Mahindra & Mahindra, Tata Consumer Products and Eicher Motors lost 2-3 percent. TCS and Infosys fell around 1 percent each in the IT pack.
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