Sensex, Nifty Pare Early Losses Ahead Of US Jobs Data

(RTTNews) - Indian shares tracked weak global cues to end a tad lower on Friday as investors waited for Wall Street's reaction to the U.S. jobs report for April due tonight.

Economists expect the non-farm payrolls report to show an increase of about 200,000 jobs in April, fewer than the 215,000 created in March. At the same time, the unemployment rate is expected to edge down to 4.9 percent from 5.0 percent.

While a strong report could set the tone for a dollar revival, any signs of weakness in the labor market following the ADP private sector employment report released on Wednesday, may seriously dent expectations of another rate hike before the UK's June referendum and the U.S. presidential election on November 8.

The benchmark BSE Sensex ended down 33.71 points or 0.13 percent at 25,228.50 and the broader Nifty index slipped 2.05 points or 0.03 percent to 7,733.45, marking their second consecutive weekly fall. The Sensex hit as low as 25,057.93 and the Nifty touched 7,678.35 in early trade.

Among the worst performers, HCL Technologies, Wipro and Dr Reddy's Laboratories lost about 2 percent each. Adani Port and Special Economic Zone fell 2.1 percent to post a weekly drop of 18 percent after reporting its quarterly results.

Hexaware Technologies tumbled 4.3 percent to extend declines for the thirteenth consecutive session. ABG Shipyard slumped 20 percent on reports the promoters may have to give up control of the company for failing to bring in an investor.

ITC shares ended flat after hitting a two-month low in early trade. The company said it had shut its cigarette factories from May 4 to comply with new norms on pictorial health warnings issued by the government.

Telecom major Bharti Airtel advanced 1.4 percent on saying it would divest about 950 towers in the Democratic Republic of Congo to Helios Towers Africa as part of efforts to cut debt and capital expenditure.

Emami climbed 6 percent post its Q4 results. Diamond Power Infrastructure soared 10 percent on stake sale news.