Indian shares opened on a flat note on Friday after strong gains in the previous session and amid renewed concerns over a trade war after U.S. President Donald Trump ordered his administration to consider additional tariffs on a $100 billion worth of Chinese imports.
The benchmark BSE Sensex was down 55 points or 0.16 percent at 33,541 in early trade after climbing around 2 percent on Thursday as the RBI left its key interest rates unchanged for the fourth straight meeting.
The broader Nifty index was down 12 points or 0.11 percent at 10,313, with Larsen & Toubro, Mahindra & Mahindra, Hindalco, Infosys and Vedanta all falling over 1 percent.
InterGlobe Aviation dropped 1.8 percent. The company, which runs air carrier IndiGo, has decided to not bid for Air India under current divestment plan.
GM Breweries advanced 1.7 percent after its Q4 profit surged to Rs 25 crore from Rs 10 crore last year.
Indian Oil Corp rose about 1 percent after acquiring Shell's 17 percent stake in Mukhaizna oil field in Oman.
Sagar Cements gained 1.8 percent after it bought two mini hydel power plants in Andhra Pradesh.
HCL Tech shares gained about 1 percent. The IT firm has agreed to acquire life sciences and consumer services provider C3i solutions.
Reliance Communications soared almost 5 percent after the Supreme Court allowed the company to sell some of its wireless assets to Reliance Jio Infocomm.