Indian shares were little changed on Tuesday, pausing after previous session’s gains, as oil remained near $115 a barrel and investors stayed cautious ahead of the US Federal Reserve’s policy decision later this week.
The benchmark Nifty 50 fell 0.06% to 22,738.55, and the Sensex shed 0.16% to 73,497.28, as of 09:49 a.m. IST.
Twelve of the 16 major sectors logged gains. The broader small-caps and mid-caps rose 1.7% and 0.5%, respectively.
Brent crude futures hovered near a six-month high after attacks on Saudi Arabia dampened hopes of an immediate easing of regional tensions. [O/R]
Higher oil prices hurt India, which imports most of its energy needs, as they can raise inflation, strain its fiscal deficit, and hit corporate profits.
“Domestic markets are likely to be subdued as continued attacks on Saudi Arabia keep concerns over potential supply disruptions and inflation elevated,” said Siddhartha Khemka, head of wealth management research at Motilal Oswal Financial Services.
“Equities could remain muted until greater clarity emerges on the Middle East situation and central bank policy decisions.”
The Fed is expected to hold interest rates steady on Wednesday before resuming its tightening cycle with a December increase, according to a Reuters poll of economists.
IT index fell 1.8%. Infosys fell 2.8%, reversing the 1.1% rise in the previous session.
The country’s No. 2 software services firm by revenue lowered its revenue growth guidance for fiscal 2027 after reporting higher-than-expected September-quarter revenue after market hours on Friday.
Tata Consumer Products rose 5.9% after reporting better-than-expected second-quarter profit, helped by steady demand for its packaged foods and beverages as the company expands beyond traditional tea and salt businesses.
Sona BLW jumped 6.3% after posting a year-on-year rise in the September quarter revenue and profit.
Astec Lifesciences lost 2.5% after reporting a decline in quarterly profit.
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.