March 23, 2018 / 10:40 AM / 9 months ago

Indian shares drop to lowest close since Oct on trade war fears

* Both NSE, BSE indexes down 1.2 pct

* Both indexes close week lower

* Banking stocks top losers on Friday

March 23 (Reuters) - 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 Oct. 11, closing 1.9 percent lower for the week. The BSE index posted its lowest close since Oct. 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.

For the mid-day report, click (Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)

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