Asian shares languish ahead of US payrolls data.
Adani Port down 18 % on the week
Indian shares edged lower on Friday, heading for their second consecutive weekly fall, on caution ahead of a U.S. payrolls report for April that could influence bets on future U.S. rate hikes.
Analysts expect U.S. nonfarm jobs to have increased by 202,000 jobs in April, a sign of economic resilience that could allow the Federal Reserve to gradually raise interest rates this year.
Despite the fall, analysts said Indian shares would likely remain supported in the months ahead after January-March earnings proved resilient and as the monsoon is expected to be above average.
Overall, India macro situation remains very healthy and good and some of the sectors are beginning to show significant improvement, especially infrastructure
Liquidity will remain normal and India will continue to attract flows given the macro scenario and pickup in demand.
ITC was flat after hitting a two-month low earlier in the session as the tobacco company shut cigarette plants to comply with a new stipulated pictorial warnings rule issued by the government.
Port and Special Economic Zone fell 1.2 percent, taking the week's decline to 18 percent, the biggest weekly loss since October 2008 after its March-quarter results failed to cheer investors.
The gainers, Bharti Airtel rose 1 percent after India's largest telecoms network operator divested 950 telecom towers in the Democratic Republic of Congo to Helios Towers Africa to reduce debt.
