Indian Shares Modestly Higher; IT Stocks Slip On AI Disruption Concerns

(RTTNews) - Indian shares were modestly higher in cautious trade on Tuesday, with underlying sentiment supported somewhat by falling crude oil prices in international markets amid hopes for diplomatic efforts to end the U.S.-Iran war and signs of recovering Saudi oil exports.

The benchmark 30-share BSE Sensex was up 120 points, or 0.2 percent, at 74,980 in early trade, while the NSE Nifty index edged up by 45 points, or 0.2 percent, to 23,459.

Among the top gainers, Adani Ports, HDFC Bank, Titan Company and Eternal all rose around 1 percent.

Hindustan Copper rallied 2.7 percent after copper prices rose for a sixth straight session toward a record amid tightening supplies in China's physical market.

Pine Labs soared 5.4 percent after 4.97 crore shares or 4.3 percent of the company's equity changed hands in block deals.

Wheels India rallied 2.2 percent after raising Rs. 180 crore via preferential allotment of equity shares.

Garden Reach Shipbuilders & Engineers rose 1.6 percent as it approved a Rs. 2,896 crore investment for its upcoming shipyard in Raichak, West Bengal.

Suryoday Small Finance Bank advanced 1.5 percent after announcing capital raising through non-convertible debentures.

Waaree Energies gained 1.2 percent on securing a substantial domestic contract for the supply of 2 GW of solar modules.

Lloyds Metals and Energy rose about 1 percent on fund raising reports.

Information technology stocks were coming under selling pressure, with Infosys and HCL Technologies falling around 1 percent, after an index of U.S. semiconductor stocks jumped over 4 percent on Monday amid fresh optimism around global semiconductor demand.

Meta's new AI agent app Muse rocketed to the top of the App Store in just ten days, reviving investor enthusiasm for the chip sector.