BENGALURU (Reuters) – Indian shares opened lower on Wednesday, dragged by losses in heavyweight financials and information technology stocks, while weakness in global markets on uncertainty over the timing of U.S. rate cuts also weighed.
The NSE Nifty 50 was down 0.4% at 22,783 points, while the S&P BSE Sensex lost 0.44% to 74,860 points, as of 9:23 a.m. IST.
The Nifty financial services index fell 0.6%, while IT stocks were down 0.4%.
Paytm rose 5% on a media report that Indian billionaire and chairman of Adani Group is looking to acquire a stake in the digital payments firm.
Global equities traded lower as doubts about the timing and extent of Federal Reserve rate cuts resurfaced. [MKTS/GLOB]
(Reporting by Dimpal Gulwani in Bengaluru; Editing by Mrigank Dhaniwala)
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