Indian shares are likely to open weak on Friday, tracking sluggish Asian equities after the US stocks fell to a three-week low amid the surge in bond yields.
The SGX Nifty, an early indicator of the Indian equity market, has indicated a weak start as well. The NSE Nifty has seen its largest decline in absolute points since August 24, 2015.
The BSE Sensex and NSE’s Nifty 50 plunged over 2 percent on Thursday following a massive sell-off in oil refiners after the government asked the companies to absorb Rs 1 cut on fuel prices.
Investors remain jittery ahead of the Reserve Bank of India monetary policy outcome as a hike in the key policy repo rate is expected.
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