Reuters Market Eye - The Sensex falls 0.8 percent and the broader Nifty is down 0.88 percent. Lenders fall after Reserve Bank of India Governor Duvvuri Subbarao said on Thursday retail inflation is still high, and several upside risks to inflation remain.
HDFC Bank down 2.3 percent, while ICICI bank Ltd falls 1 percent.
Recent outperformers such as Sun Pharmaceutical Industries Ltd and Mahindra & Mahindra Ltd (M&M) fall on profit-booking after making their respective all-time highs on Thursday.
Sun Pharma falls 1.2 percent while M&M is down 3 percent.
DLF Ltd falls 3 percent after India's largest real estate developer posted its first-ever quarterly net loss, weighed down by slowing home sales in a sluggish economy.
Caution also prevails ahead of release of the GDP data for the quarter through March at 11 a.m.
(Reporting by Abhishek Vishnoi)
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