Indian shares tumbled on Friday in opening trade amid weak global cues, dragged by selling across the board. At 9:15 am, the 30-share benchmark S&P BSE Sensex opened 0.85 percent, or 470 points lower, at 55,159. The broader 50-share NSE Nifty50 index was down over 1 percent, or 186 points, at 16,382. Broader markets also declined in tandem, falling over a percent.

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On the Nifty50, Asian Paints, SBI Life, Maruti, Bharti Airtel, and Hindustan Unilever gained the most, rising between 0.30 percent and 1 percent. Whereas, Hindalco, Tata Steel, JSW Steel, ONGC, and L&T were the top losers with correcting between 2 and 5 percent.

The volatility gauge, India VIX was at 13.74 points, over 6 percent higher. Nifty Bank and Media is down over 1 percent, whereas Nifty Metal has lost over 3 percent. Almost all the indices are trading in the red Friday.

Globally, Asian shares continued extending losses on Friday from the 2021 low set a day earlier. The dollar continues to hold to its recent gains sitting at a nine-month high.

MSCI's broadest index of Asia-Pacific shares lost 0.75 percent and Chinese shares were down over 1 percent. Japan's Nikkei was trading half a percent lower. US Stock futures were also down 0.26 percent.

A day earlier, Asian and European stock markets and oil fell sharply whereas the dollar rose to a nine-month high, after the prospects of Federal Reserve cutting back on bond purchases spooked investors.

Meanwhile, traders are also waiting to assess what Chinese policymakers think as the country will set its benchmark lending rate today.

Oil prices continue to fall Friday too with US Crude down nearly 3 percent. Brent crude, however, is trading flat at $66. But Gold has stabilised after declines on Thursday and cryptocurrencies are trading higher Friday.

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(Edited by : Ajay Vaishnav)