Reuters Market Eye - The BSE Sensex hit its lowest intraday level since October 17 as blue chip shares including Larsen and Toubro Ltd fall on Fed tapering concerns after better-than-expected U.S. jobs data.
The benchmark BSE Sensex is down 1 percent, while the broader Nifty falls 1.16 percent heading for their fifth consecutive day of declines.
Larsen and Toubro falls 3.4 percent while Reliance Industries Ltd is down 1.6 percent.
Tata Motors Ltd declines 2 percent after operating profit margins at key unit Jaguar Land Rover Ltd for the July-September quarter missed estimates when adjusted for one-time tax incentives.
Selling worth of over 10 billion rupees of index futures on Friday also weighs on sentiment, raising worries about a potential slowdown in their buying volume.
Overseas funds have been buyers of Indian equities for the last 25 consecutive sessions with total inflows so far in 2013 now at almost $16.7 billion.
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However, Shares in Cairn India Ltd gain 2.14 percent after Brent oil futures rebound from a nearly four-month low, while the rupee hits nearly two-month low versus the U.S. dollar.
(Reporting by Abhishek Vishnoi)