At 9:27 a.m. IST, the Nifty 50 index was down 0.47% at 25,131.95 points, while the S&P BSE Sensex had declined 0.45% to 82,122.28
Indian shares slid sharply yesterday to post its worst day in at least three months as tensions in the Middle East grew and fears that crude supplies from the world's biggest oil-producing region may be disrupted. Global stocks suffered and oil prices advanced.
Foreign outflows from Indian markets surged to a fresh high on Thursday. For the last three sessions, foreign institutional investors have sold shares worth $3.65 billion. Analysts feel that FIIs are moving towards India's neighbor in a more considerable way after China has activated its stimulus packages.
Twelve of 13 sectoral indexes opened lower on Friday. The more domestically-focused small- CNXSMALLCAP and mid-cap CNXMIDCAP declined around 0.75% each.
Non-bank lender Bajaj Finance dropped 2.4% after reporting a pre-earnings update during post market hours on Thursday. "The pre-earnings update shows an expected moderation in assets under management, with new loan booking falling 12% sequentially," analysts at Jefferies said.
Bajaj Finance was the second-biggest Nifty 50 loser by percentage.
Mahindra and Mahindra Financial Services dropped about 5.3% after reporting disbursement slipped into the red in the September quarter.a
