Asian markets fell with the Japanese Nikkei falling almost 3 per cent, as confidence at big Japanese manufacturers worsened in the three months to March and is seen falling further ahead, a closely watched central bank survey showed on Friday.
Most analysts are watching for the US non farm payrolls data due later today, which would throw some light on when the US Fed could hike rates in the US.
Aurobindo Pharma was the biggest loser from the Nifty space, after the target price of the stock was cut by a leading brokerage firm.
Banking stocks were also subdued ahead of the RBI's credit policy next week. State Bank of India, ICICI Bank, Yes Bank and PNB were all among the losers.
HCL Tech was trading marginally up, after the company said that is it was acquiring Geometric Software.
While Geometric Software itself was down almost 2 per cent in trade. Alkem Labs was down after the UK MHRA conducted inspection at Taloja facility of the company.