INDIA STOCKS — Indian shares muted, IT gains offset broad profit — taking
(Updates for markets open) Oct 16 (Reuters) — Indian shares were off to a muted start on Friday, as IT firms rose after Tech Mahindra's upbeat quarterly earnings, offsetting broad-based profit booking. The benchmarks posted their biggest single-day gains in four months in the previous session on a rebound in the global AI trade and earnings-driven moves. On Friday, the Nifty 50 fell 0.05% to 22,986.5, while the BSE Sensex edged 0.19% lower to 74,182.63 as of 09:21 a.m. IST. Thirteen of the 16 major sectors logged losses. The broader small-caps and mid-caps shed 0.2% and 0.3%, respectively. The IT index jumped 1.3%, led by 3% rise in Tech Mahindra after the software company beat second-quarter revenue expectations, aided by robust deal wins. (Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala) ((VivekKumar.M@thomsonreuters.com;)
(Updates for markets open) Oct 16 (Reuters) — Indian shares were off to a muted start on Friday, as IT firms rose after Tech Mahindra's upbeat quarterly earnings, offsetting broad-based profit booking. The benchmarks posted their biggest single-day gains in four months in the previous session on a rebound in the global AI trade and earnings-driven moves. On Friday, the Nifty 50 fell 0.05% to 22,986.5, while the BSE Sensex edged 0.19% lower to 74,182.63 as of 09:21 a.m. IST.
Thirteen of the 16 major sectors logged losses. The broader small-caps and mid-caps shed 0.2% and 0.3%, respectively. The IT index jumped 1.3%, led by 3% rise in Tech Mahindra after the software company beat second-quarter revenue expectations, aided by robust deal wins. (Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala) ((VivekKumar.M@thomsonreuters.com;)