Indian Shares Edge Lower As IT Stocks Drag On Earnings Concerns
(RTTNews) - Indian shares were subdued in early trade on Tuesday ahead of the next round of U.S.-Iran negotiations set to take place in Doha today.
It is feared that any escalation or disruption to shipping through the Strait of Hormuz could reignite concerns over energy supplies, inflation and the outlook for interest rates.
The BSE 30-share Sensex was down 168 points, or 0.2 percent, at 76,560 while the broader NSE Nifty index slid by 49 points, or 0.2 percent, to 23,897.
IT stocks were sharply lower, with Tech Mahindra, HCL Technologies, TCS and Infosys falling 1-2 percent as attention shifted to June-quarter earnings.
HDFC Bank fell about 1 percent after it appointed former Finance Secretary Rajiv Kumar as its part-time chairman for a four-year term.
Bajaj Auto dropped 1 percent after outlining its priorities for FY27.
Yes Bank was down about 1 percent after its board approved a proposal to raise up to Rs. 16,000 crore via a mix of equity and debt issues.
SIS tumbled 3.4 percent after its board approved buying back shares worth up to Rs. 120 crore, its fifth share buyback since its listing in August 2017.
Sterling & Wilson Renewable Energy rallied 2 percent on securing a $560 million solar project order in Egypt in a joint venture with Hassan Allam Construction.
Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops
UK Stocks Rise On GDP Growth, Oil Price Decline
French Stocks Rise On Oil Price Drop, Middle East Concerns Persist
Indian Shares End Off Day's Lows As Oil Prices Ease
German Stocks Move Modestly Higher As Oil Prices Fall Sharply
Gold Edges Higher As Oil Prices Ease After Recent Surge
Oil Prices Edge Lower As IEA Further Cuts Oil Demand Forecast
