Indian shares fell on Friday, snapping four straight sessions of gains, as recent global data and forecasts deepened concerns about the world economy. The benchmark BSE index settled 0.15 percent lower at 36,671.43, but posted a weekly gain of 1.7 percent. The broader NSE index lost 0.21 percent at 11,035.40, but added 1.6 percent for the week.
Both indexes posted their best weekly gain since Nov. 30. "Exports as a percentage of GDP is not a high number for India... But if global demand is sluggish, then one part of the growth puzzle is in the negative, and will have an impact on Indian markets," said Deepak Jasani, head - retail research, HDFC Securities.
Shares of Wipro Ltd were the top percentage loser, with at least seven block deals taking place. Chairman Azim Premji is expected to sell up to 0.44 percent stake, owned via his philanthropic trust, BloombergQuint reported on Thursday. Tata Motors Ltd dropped 3.5 percent, after its luxury car unit Jaguar Land Rover on Thursday posted a 4.1 percent fall in February retail sales in February.
Metal stocks also witnessed selling, led by MOIL Ltd and Hindalco Industries Ltd, down about 3 percent each. Mid-cap stocks fell, with the Nifty Mid-cap 100 index down 0.4 percent. Analysts believe mid- and small-cap stocks are likely to return as attractive valuations.
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