India's Stock Market Faces Caution Amid Global and Local Worries

Indian stocks are down, with Nifty heavyweights Reliance and ICICI Bank posting earnings misses after market hours Friday. Earnings from top banks have been mixed, with HDFC Bank beating expectations but missing on net interest margins. Retail investors have turned net sellers of listed stocks for the first time since the pandemic, pointing to growing fatigue and a preference for other asset classes.