Indian shares open lower as financials drag

BENGALURU: Indian shares opened lower on Wednesday, dragged by losses in heavyweight financials and information technology stocks, while weakness in global markets on uncertainty over the timing of US rate cuts also weighed.

The NSE Nifty 50 was down 0.4% at 22,783 points, while the S&P BSE Sensex lost 0.44% to 74,860 points, as of 9:23 a.m. IST.

The Nifty financial services index fell 0.6%, while IT stocks were down 0.4%.

India blue-chips end lower, mid-caps end 11-day rally amid profit booking

Paytm rose 5% on a media report that Indian billionaire and chairman of Adani Group is looking to acquire a stake in the digital payments firm.