Sensex, Nifty open weaker ahead of US Fed speech; banks underperform

Benchmark indices opened weaker on Friday as the market investors remain cautious ahead of US Federal Reserve's speech. The Nifty Bank Index and the Nifty IT index also slipped in early trade,

Indian shares were little changed on Friday, with banking stocks falling the most, as caution kicked in ahead of Federal Reserve Chair Jerome Powell's speech due later in the day. By 9:16 am, the blue-chip NSE Nifty 50 index was down 0.05% at 16,628.50, while the benchmark S&P BSE Sensex fell 0.07% to 55,910.04. For the week, the Nifty 50 index is set to gain, reversing last week's losses.