Indian shares experienced a slight decline on Friday following comments from three Federal Reserve officials advocating for maintaining high borrowing costs until there is more concrete evidence of inflation easing.
The benchmark S&P BSE Sensex dropped 105 points, or 0.2%, to 73,554, while the broader NSE Nifty index fell by 36 points, or 0.2%, to 22,367.
Notable decliners in the Nifty pack included Nestle India, Cipla, Britannia Industries, SBI Life, and Adani Ports, each dropping around 1%. In contrast, Mahindra & Mahindra surged 7% after reporting better-than-expected fourth-quarter results.
Tata Motors and Grasim each saw gains of over 1%.
Vodafone Idea remained relatively stable despite an increase in its fourth-quarter net loss.
GAIL (India) rose by 1.4% following news of its new lease of a liquefied natural gas carrier for 14 years to transport cargo from the U.S.
Biocon saw a slight decline after reporting a 57% decrease in consolidated net profit for the fourth quarter.
Container Corporation of India fell by 3.2% due to muted growth in its quarterly profit.
Vedanta gained 1% amid reports of new fund-raising efforts.