Indian Shares Subdued As IT Stocks Slump After Recent Gains

RTTNews | 42 days ago
Stocktwits
Indian Shares Subdued As IT Stocks Slump After Recent Gains

(RTTNews) - Indian shares were subdued in early trade on Friday as IT stocks faced selling pressure after recent gains following a rebound in global AI and semiconductor stocks.

A cautious undertone prevailed amid escalating Middle East tensions and uncertainty over the Federal Reserve's rate path.

The benchmark 30-share Sensex was down 73 points at 77,855 while the broader NSE Nifty index dipped marginally to 24,314.

IT stocks fell after recent strong gains as investor fears over heavy AI spending eased. HCL Technologies, Wipro, TCS and Infosys tumbled 2-4 percent.

Maruti Suzuki India and Bajaj Finserv were moving higher ahead of their quarterly results due today.

Tata Steel edged up slightly on reporting a 12 percent rise in quarterly profit.

Torrent Pharma gained 1.1 percent on reporting a 3.3 percent year-on-year increase in its June quarter net profit.

Mazagon Dock Shipbuilders advanced 1.4 percent as it reported 21 percent growth in June quarter profit.

RailTel Corporation of India tumbled 3.2 percent after posting flat quarterly earnings.

Swiggy fell over 1 percent after posting a Rs. 791 crore loss for the June quarter.

Stocktwits
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