Indian equity benchmarks declined sharply in opening deals on Friday, in line with weakness in global markets.
Asian stocks fell over concerns that the US’ central bank and some other major central banks will have to raise interest rates even more aggressively to check inflation.
All Nifty sectoral indices traded in the red in the morning session.
Benchmark Sensex was at 54,666 points, down over 1,000 points or 1.9 per cent, whereas Nifty at 16,376 points, down over 300 points or 1.8 per cent.
“US non farm payrolls data and unemployment rate will be announced today which may decide the direction of global markets,” said Mohit Nigam, Head – PMS, Hem Securities.