Weak global sentiment clouded Indian equity market as benchmarks Sensex and Nifty fell in the opening deals on Friday.
The concerns about slowing global economic growth grew stronger after the European Central Bank (ECB) slashed its growth forecasts and unveiled plans to deploy additional stimulus to prop up the economy.
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Major global markets came under pressure after the ECB pushed out the rate hike until 2020 and offered banks a new round of cheap loans, highlighting continued weakness and uncertainty in the economy.
Crude's fall offered some support and capped the fall for the market. Oil prices fell on weak demand outlook as well as on the concerns that arise in US crude output may offset any impact of Opec supply cuts.
Around 9:30 am, the BSE Sensex was 48 pnts, or 0.13 %, down at 36,677, while the NSE Nifty was 27 pnts, or 0.24 %, down at 11,032
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