INDIA STOCKS-Indian shares fall as banks, financials drag


BENGALURU, Sept 23 (Reuters) - Indian shares opened lower on Friday, dragged by banks and financials and mirroring their Asian peers, as global risk sentiment remained subdued amid renewed worries over economic growth.

The NSE Nifty 50 index .NSEI fell 0.4% at 17,554.20 at 0352 GMT, while the S&P BSE Sensex .BSESN dropped 0.4% to 58,868.69.

The U.S. Federal Reserve's members' projections for aggressive hikes and persistently high rates over the next year or so has unleashed another round of dollar buying that put other assets on the run.

The Nifty bank index .NSEBANK was down 0.8%, while the finance index .NIFTYFIN dropped 0.9%.

Shares of Mahindra and Mahindra Financial Services MMFS.NS fell more than 8% after the Reserve Bank of India directed the company to stop using third-party services for loan recovery until further orders.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza)

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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