Indian Shares Extend Losses On Trade Concerns; IT Sector Worst Hit
(RTTNews) - Indian shares opened lower on Thursday, extending recent losses amid rising geopolitical tensions and trade uncertainties.
The benchmark BSE Sensex was down 155 points, or 0.2 percent, at 84,805 while the broader NSE Nifty index dropped 66 points, or 0.3 percent, to 26,074.
TCS shares were down nearly 2 percent while Tech Mahindra, Reliance Industries, Sun Pharma, Infosys, Maruti Suzuki India, UltraTech Cement and Asian Paints all fell around 1 percent.
Tata Steel edged down slightly after releasing its Q3 business update.
Meesho slumped 4.3 percent after Megha Agarwal, general manager for business at the company resigned.
IIFL Capital Services declined 1.6 percent after clarifying media reports about TPG Capital potentially acquiring a 30-40 percent minority stake in the company.
Samvardhana Motherson International fell 1.2 percent after incorporating a new wholly owned subsidiary called Motherson Egtronics Electronics Solutions.
Gland Pharma added 1.4 percent on receiving approval from the U.S. FDA for its Abbreviated New Drug Application filed for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.7 per cent (OTC).
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