A bird flies near the Bombay Stock Exchange (BSE) building in Mumbai, India, April 3, 2025. REUTERS
April 4 (Reuters) – Indian shares inched lower on Friday as information technology stocks continued their slide amid fears of a U.S. recession hitting growth prospects.
The Nifty 50 was down 0.26% at 23,190.40 as of 09:15 a.m. IST, while the BSE Sensex fell 0.18% to 76,160.09.
Seven of the 13 major sectors were down, while the broader mid-cap and small-cap indexes fell 0.2%.
The IT index fell 1.5% to become the biggest drag on the benchmarks for a second day.
The U.S. announced baseline tariffs of 10% on all imports as well as higher reciprocal tariffs on trading partners that have a trade surplus with the world’s largest economy.
India was hit with a 27% retaliatory levy, lower than China’s 34%, Vietnam’s 46% and Bangladesh’s 37%.
Reporting by Vivek Kumar M; Editing by Janane Venkatraman and Sonia Cheema
