BENGALURU, Aug 5 Reuters Indian shares tumbled about 2 on Monday in their steepest intraday drop in two months, but faring slightly better than its Asian peers in a selloff in global equities on fears of a slowdown in U.S. economic growth.

The NSE Nifty 50 index slid 1.76 to 24,287, as of 1010 a.m IST and the SP BSE Sensex dropped 1.8 to 79,533.57.

U.S. jobs growth slowed morethanexpected in July, data showed on Friday. U.S. nonfarm payrolls were well below expectations, the previous month39;s numbers were revised lower and most importantly, the unemployment rate climbed to a near threeyear high.

Global markets are reeling under pressure as bears enter with a cocktail of bad news, said Santosh Meena, head of research at Swastika Investmart.

The fear of growth slowdown in the U.S. after extremely poor jobs data and concerns over reverse Yen carry trade have spooked market sentiment, Meena said.

Asian equities tumbled, with the MSCI Asia exJapan index dropping 2.9. Japan39;s Nikkei shed 6 to hit sevenmonth lows, while U.S. stock futures continued their tumble from Friday, with Nasdaq futures down 3.

The relative resilience in Indian markets compared to other Asian and emerging markets is due to solid domestic economic fundamentals, sustained momentum in earnings and flush liquidity, said A Balasubramanian, managing director and chief executive officer at Aditya Birla Sun Life Asset Management Company.

Although Indian stocks fared relatively better, the rupee fell…