Sensex Drops 155 Points In Early Trade; Nifty At 12112

(RTTNews) - Indian shares drifted lower in early trade on Friday as Sino-U.S. trade tensions weighed and investors awaited GDP data due out later in the day for direction.

The benchmark S&P BSE Sensex dropped 155 points, or 0.38 percent, to 40,974 while the broader NSE Nifty index was down 38 points, or 0.32 percent, at 12,112.

HDFC Bank was marginally lower after it set up a six member panel to find a successor to its longest-serving chief Aditya Puri.

Future Retail soared as much as 14 percent after the Competition Commission of India approved Amazon's proposed acquisition of a minority stake in Future Group.

ONGC edged down slightly after it raised $300 million in overseas borrowing.

ICICI Securities rallied 2.5 percent after settling a case of alleged violation of stock broker norms with SEBI.

Aurobindo Pharma jumped 2 percent after it agreed to acquire certain R&D (research and development) assets of U.S. clinical-stage vaccine development firm Profectus BioSciences Inc.

Bank of Baroda advanced 1.3 percent after raising Rs 1,650 crore by issuing Basel-III compliant bonds.

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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