Indian benchmark shares open tad lower as financials pull back

India's equity benchmarks opened marginally lower on Friday, as heavy-weight financials pulled back after a sharp uptick on Wednesday after central bank's dovish pause and reforms to enhance bank lending.
The Nifty 50 was down 0.26% at 24,768.5, while the BSE Sensex shed 0.27% to 80,773.54, as of 9:17 a.m. IST.
Nine of the 16 major sectors logged losses at the open. Financials lost 0.4%, dragging the benchmark indexes. They had gained 1.4% on Wednesday after the Reserve Bank of India eased rules for lending to capital markets and large corporates.
Indian financial markets were closed on Thursday for a local holiday.
Consumer stocks fell 0.6% to top the list of sectoral losers by percentage.
The broader small-caps and mid-caps gained 0.1% and 0.3%, respectively.
Meanwhile, WeWork India Management's 30-billion-rupee IPO will open for subscription later in the day. The Indian unit of the U.S.-based shared office space provider has set a price band of 615-648 rupees per share for its IPO, targeting a valuation of 86.85 billion rupees, according to Reuters calculations.

Sumber : Reuters