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Sensex, Nifty Slide On Tariff Worries

Indian shares opened a tad lower on Friday, tracking muted cues from global markets on concerns that tit-for-tat tariffs will destroy trade between the world's top two economies.

The benchmark BSE Sensex was down 48 points or 0.13 percent at 37,976 in early trade after rising about 0.2 percent on Thursday to reach a fresh record high. The broader Nifty index was down 13 points or 0.11 percent at 11,457.70.

Jet Airways slumped 6.4 percent after deferring its Q1 result announcement.

Bhushan Steel rallied 2.4 percent after its former promoter Neeraj Singal was arrested for alleged fund diversion.

Maruti Suzuki India was little changed on news that it would build a website where car buyers can compare prices.

Eicher Motors jumped 2.8 percent after reporting its highest quarterly profit in a decade.

Hindalco slid half a percent and SBI dropped 1.8 percent ahead of their quarterly results due today.

Vakrangee lost 1.8 percent after SEBI ordered its promoter to make an open offer to acquire shares of its listed subsidiary Vakrangee within 45 days.

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