The outlook overshadowed better-than-expected fourth-quarter results. (File Photo)
Indian shares opened lower on Friday, heading for a third consecutive session of losses, pressured by higher oil prices on Middle East tensions and a drop in IT stocks after Infosys issued a weak revenue forecast.
The Nifty 50 fell 0.30% to 24,100.55, and the BSE Sensex shed 0.23% to 77,483.80, as of 9:15 a.m. IST.
Eight of the 16 major sectors declined at the open. The broader small-caps and mid-caps rose 0.3% and 0.2%, respectively.
IT index fell 1.6%, dragged down by a 3.3% drop in Infosys.
The country’s No. 2 IT company forecast annual revenue growth below market expectations due to macroeconomic uncertainty and tepid client spending.
The outlook overshadowed better-than-expected fourth-quarter results. Brent crude hovered around $106 after Iran displayed its grip over the Strait of Hormuz with a video of its commandos storming a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump’s indefinite extension of the ceasefire.
