Author: Don Obrien

Indian shares fall as tech, finance stocks lead losses

People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas

BENGALURU, Oct 5 (Reuters) – Indian shares fell on Tuesday, led by tech and finance stocks and amid a global selloff over concerns rising oil prices might hamper economic activity.

The NSE Nifty 50 index (.NSEI) fell 0.13% to 17.668.4, while the S&P BSE Sensex (.BSESN) was down 0.12% at 59,228.3 by 0351 GMT.

Nifty’s IT index (.NIFTYIT) fell the most among major sub-indexes, down 0.88% early on Monday, led by tech companies Mphasis (MBFL.NS), HCL (HCLI.NS) and Mindtree (MINT.NS), all down between 1.06% and 1.7%.

Energy stocks (.NIFTYENR), however, advanced 1.3%, led by a 4.3% rise in Indian oil and gas explorer Oil and Natural Gas Corp (ONGC.NS).

Asian shares suffered heavy losses early on Tuesday following a broad selloff on Wall Street, as investors worried about inflation due to supply chain disruptions and the rally in energy prices.

Reporting by Vishwadha Chander in Bengaluru; Editing by Krishna Chandra Eluri

Our Standards: The Thomson Reuters Trust Principles.

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