Indian shares edged lower on Friday, dragged by banks and energy stocks, ahead of major U.S. jobs data that will provide clues on the Federal Reserve’s rate hike strategy, while subdued global sentiment also weighed.
The World Bank trimmed India’s growth forecast for this financial year by a full percentage point, as rising commodity prices and debt-trouble hit economies in South Asia.
U.S. Federal Reserve officials have showed no intention of backing down from the most aggressive rate hike campaign in decades, emphasising that the inflation fight was ongoing.
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