Indian shares were little changed on Thursday, with IT stocks underperforming after Fed Chair Powell reiterated that interest rates would need to rise further to contain stubbornly elevated inflation.
If the Fed decides to revert to its recent quarter-point increases, the forecast suggests the U.S. central bank will raise rates two more times this year.
The benchmark S&P BSE Sensex slipped 14 points to 63,509 in early trade, while the broader NSE Nifty index was up 8 points at 18,865.
Bajaj Finance, Tata Consumer Products and Power Grid Corp all were down over 1 percent.
In the IT sector, Infosys declined 1.3 percent and Wipro shed 0.8 percent.
TCS eased 0.2 percent despite bagging a $1.1 billion deal from U.K.’s National Employment Savings Trust.
Market Analysis
Sensex, Nifty Little Changed On Weak Global Cues
2023-06-22 04:26:07
