Indian shares drop

Indian shares fell over 1 percent on Friday, with the broader NSE index closing below the 10,000 level for the first time since October, after heated rhetoric between the United States and China over import tariffs sparked fears of a global trade war. The NSE index closed 1.15 percent lower at 9,998.05, while the benchmark BSE index ended down 1.24 percent at 32,596.54.
The NSE index posted its lowest close since October 11, closing 1.9 percent lower for the week. The BSE index posted its lowest close since October 23, declining 1.8 percent this week. Banking stocks were the biggest losers, with HDFC Bank Ltd shedding 1.4 percent and ICICI Bank Ltd ending 2.7 percent lower.