Middle East worries pull down Indian shares; Infosys drags IT stocks
Friday,
19-Apr-2024
09:28 AM (IST)
Indian shares opened lower on Friday, tracking Asian peers, on worries of an escalation in geopolitical tensions in the Middle East, while a post-earnings drop in software services firm Infosys dragged down information technology stocks. The Nifty was down 0.92% at 21,793.75 as of 9:22 a.m. IST, while the Sensex fell 0.89% to 71,850.09. MSCI's broadest index of Asia-Pacific shares slipped more than 2% and U.S. stock futures also pointed 1.3% lower following media reports that Israeli missiles had hit a site in Iran. The IT index fell 1.2%. Infosys lost 2%, and was among the top five Nifty 50 losers. The company forecast annual revenue below expectations after reporting March-quarter revenue that missed analyst estimates.
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