Indian shares opened lower on Friday as White House Trade Adviser Peter Navarro criticized India’s trade practices, calling it the ‘Maharaja’ of tariffs. Traders also awaited Fed Chair Jerome Powell’s speech at the Jackson Hole symposium and reduced bets on Fed interest-rate cuts. The BSE Sensex dropped 386 points, while the NSE Nifty fell 124 points. HDFC Bank, TCS, and other major stocks declined around 1 percent. IDBI Bank fell over 2 percent on privatization reports, while Goldiam International rallied 3.4 percent after a QIP. GMR Airports rose 1 percent on fund raising news, and Texmaco Rail & Engineering gained over 2 percent with a new order.

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