Indian Shares Open Lower In Cautious Trade

(RTTNews) - Indian shares opened lower on Friday as global sentiment turned cautious due to concerns over stretched valuations and AI investment profitability.

Also, a mixed jobs report injected yet more uncertainty into whether the Federal Reserve will cut interest rates at its December meeting.

The benchmark BSE Sensex was down 240 points, or 0.3 percent, at 85,390 in early trade, while the broader NSE Nifty index slipped 74 points, or 0.3 percent, to 2,118.

Tata Steel, Tech Mahindra and ICICI Bank were down around 1 percent each.

Reliance Industries was little changed after an announcement that it has stopped importing Russian crude oil into its Special Economic Zone (SEZ) refinery in Jamnagar, Gujarat.

Adani Ports and Special Economic Zone fell about 1 percent despite CRISIL Ratings reaffirming its ratings.

Zaggle Prepaid Ocean Services declined 1.3 percent after it entered into an agreement with BIBA Fashion.