Indian Shares Open Lower As US-Iran Talks End With No Deal; IT Stocks Extend Gains
(RTTNews) - Indian shares opened lower on Friday as a global tech rally stalled and the latest round of Iran-U.S. nuclear talks in Geneva ended without any achievements.
According to the Wall Street Journal, Iran rejected major U.S. proposals, including transferring enriched uranium abroad, halting enrichment, and dismantling certain nuclear sites. The next round of negotiations would happen in a less than a week.
The benchmark BSE Sensex was down 362 points, or 0.4 percent, at 81,886 in early trade while the broader NSE Nifty index dipped 131 points, or half a percent, to 25,366.
Among the prominent decliners, ITC, Kotak Mahindra Bank, Asian Paints, Mahindra & Mahindra, Bharti Airtel, Bajaj FinServ, Maruti Suzuki India, Hindustan Unilever and UltraTech Cement were down 1-2 percent.
Saatvik Green Energy tumbled 2.5 percent despite securing new orders worth Rs 87 crore for the supply of solar photovoltaic modules.
Jio Financial Services rose about 1 percent after infusing Rs. 2,000 crore into its lending arm.
IT stocks traded higher for a third consecutive session, with HCL Technologies, Tech Mahindra and Infosys rising 1-2 percent.
Netweb Technologies climbed 1.1 percent after collaborating with NYSE-listed Vertiv.
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