Indian Shares End Choppy Session Little Changed; IT Stocks Surge
(RTTNews) - Indian shares ended a choppy session marginally lower on Tuesday, even as IT stocks surged as concerns over China's rising semiconductor capabilities coupled with Nvidia's AI infrastructure deals worth more than $750 billion sparked fears of an AI bubble and circular financing.
A cautious undertone prevailed as traders waited for the Federal Reserve policy decision on Wednesday for directional cues.
The U.S. dollar hovered near a one-month high as expectations of higher-for-longer interest rates countered investor relief over recent declines in global crude oil prices.
Brent crude futures fell toward $86 a barrel, marking a third consecutive session of losses after U.S. President Trump said the U.S. was having "good talks" with Iran, raising optimism over the prospects for a negotiated peace deal.
It was said that the talks are being conducted mainly between Iran and Oman, but Qatar, Pakistan, Egypt and Trump's envoys, Steve Witkoff and Jared Kushner, are also actively involved.
The 30-share BSE Sensex swung between gains and losses before finishing down 69.86 points at 76,765.92.
The NSE Nifty index slid 10.60 points to 23,985.35. The BSE mid-cap index ended little changed while the small-cap index dropped half a percent.
The market breadth was weak on the BSE, with 2,626 shares falling while 1,630 shares rose and 168 shares closed unchanged.
Among the prominent decliners, Hindustan Unilever slumped 7 percent and Bharat Electronics plunged 4 percent after posting disappointing quarterly results.
IT stocks soared, with Infosys, Tech Mahindra and TCS rising 2-4 percent. Eternal soared 4 percent following reports that Zepto, a quick commerce player, is preparing for its IPO.
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