Indices under pressure as Nifty slips below 10,300; NBFC stocks down 3-15%

The rupee recovered from early losses to trade higher by 19 paise at 73.42 against the US currency in late morning session on fresh dollar selling by exporters amid easing crude oil prices and a weakening greenback.

Dealers said the Reserve Bank of India's steps to ease liquidity concerns of NBFCs also helped the domestic currency.

At the Interbank Foreign Exchange, the rupee opened lower at 73.62, but soon recovered the lost ground and jumped 19 paise to touch a high of 73.42 on increased selling of the American currency by exporters and banks.

The rupee sentiment also received a boost after a steep fall in Brent crude prices Thursday following a surprise jump in US stockpiles and lingering worries about Chinese growth outlook.

Stocks in Asia fell on Friday as global sentiment soured on issues ranging from trade worries, Italy's 2019 budget, higher US interest rates and growth concerns in China that led to a slump in Chinese shares in the previous session. Early in the trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was 0.4 percent weaker following losses on Wall Street overnight, reported Reuters.

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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-under-pressure-as-nifty-slips-below-10300-nbfc-stocks-down-3-15-3062251.html