Sensex Down 125 Points In Early Trade; Nifty At 10,580

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(RTTNews.com) - Indian shares opened slightly lower on Friday after the Federal Reserve signaled further gradual increase in interest rates and Moody's Investors Service cautioned that India's GDP growth will slow down to 7.3 percent next year.

The benchmark BSE Sensex was down 125 points or 0.36 percent at 35,112 in early trade, while the broader Nifty index was down 19 points or 0.18 percent at 10,580.

Bharti Airtel tumbled 3 percent as Moody's Investors Service put the telecom firm on a ratings downgrade watch, citing fears of more cashflow trouble and profitability.

Fortis Healthcare shed 0.7 percent after its chief executive Bhavdeep Singh reportedly stepped down, citing professional and personal reasons.

Allahabad Bank rallied 3.7 percent after the government infused Rs 3,054 crore into the state-run lender.

BPCL, HPCL and IOC rose 1-2 percent after oil prices fell as much as 1.6 percent on Thursday to extend losses to a ninth straight session on concerns over rising inventories and economic uncertainty.

Mphasis was marginally higher after acquiring Stelligent Systems LLC in an all-cash deal.

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This article appears in: Stocks , World Markets , Banking and Loans , Economy , Oil

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