BENGALURU (Reuters) – Indian shares inched lower on Thursday as gains in banks were outweighed by losses in information technology companies.
The NSE Nifty 50 was down 0.2% at 22,649 points, while the S&P BSE Sensex lost 0.22% to 74,344 points, as of 9:24 a.m. IST.
U.S. interest rate-sensitive IT stocks fell 0.7% on increasing odds that U.S. rates will stay higher for longer.
Bank stocks rose 0.5% after S&P Global Ratings revised its outlook on six banks to “positive”.
Edelweiss Financial Services fell 12.2% after the country’s central bank barred two of its units from acquiring financial assets or undertaking structured transactions.
(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D’Souza)
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