Indian shares fall as earnings weigh on IT

MUMBAI: Indian shares fell on Thursday, weighed down by post-earnings losses in information technology and consumer stocks, and as financial services firms declined after a three-day rally.

Investors remained on watch for trade talks with the United States amid an imminent free-trade agreement with the UK.

The Nifty 50 settled 0.63% lower at 25,062.1 points while the BSE Sensex lost 0.66% to 82,184.17.

Eleven of the 16 major sectors fell, with IT and consumer shares leading the losses with 2.2% and 1.1% declines, respectively.

India’s broader smallcaps and midcaps lost 1.1% and 0.6%.

“Domestic factors drove the market on the day,” Aamar Deo Singh, senior vice president at Angel One, said.