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Indian Shares Seen Opening Lower On Global Growth Fears

The NSE Nifty 50 index fell 1.72 per cent at 17,327.35 on Friday, while the S&P BSE Sensex dropped 1.73 per cent to 58,098.92

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Indian shares are expected to fall at the open on Monday, in line with Asian peers, amid renewed worries over economic growth on the back of a high-interest rate environment.

India's NSE stock futures listed on the Singapore Exchange were down 0.9 per cent as of 0205 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan was down 1 per cent.

The NSE Nifty 50 index fell 1.72 per cent at 17,327.35 on Friday, while the S&P BSE Sensex dropped 1.73 per cent to 58,098.92.

The sterling slumped to a record low on Monday as investors piled into dollars and out of almost everything else, spooked by the prospect of high-interest rates and poor growth ahead.

Last week, the United States and half a dozen other countries raised rates. India's central bank will deliver its monetary policy decision later in the week.

Foreign institutional investors sold net 29 billion rupees worth of Indian equities on Friday as per provisional data available with the National Stock Exchange.

(Reuters)


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