BENGALURU: Indian shares snapped a weeks-long winning streak on Friday, dragged by information technology and auto stocks, after weaker-than-expected U.S. data triggered a global sell-off.
The NSE Nifty 50 fell 1.17% to 24,717.7 points, while the S&P BSE Sensex shed 1.08% to 80,981.95, logging losses for the first time in six sessions.
They also ended an eight-week winning run, their longest in 14 years.
Asian markets declined, with the MSCI Asia ex-Japan index losing 2.5%, after weak U.S. manufacturing and labour market data sparked fears of a worsening economic outlook.
Investors now await the nonfarm payroll data due after Indian market hours to gauge the health of the U.S. labour market.
Weak economic data from the U.S. has hurt sentiment, leading to increased nervousness and uncertainty among investors and a drop across equity markets globally, said Pravesh Gour, senior analyst at Swastika Investmart.
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The benchmark Nifty 50 also eased from overbought zone after five sessions on Friday.
On the day, twelve of the 13 major sectors logged losses.
IT companies, which earn a significant share of their revenue from the U.S., lost 2.41%.
The auto index fell 2.92%, after multiple brokerages flagged weakness in the passenger vehicle and the medium-heavy commercial vehicle segments.
Eicher Motors, Tata Motors and Maruti Suzuki slid between 4.1% and 5% and were among the top five Nifty 50 losers.
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