Sensex, Nifty Follow Global Peers Lower; IT Stocks Drag

(RTTNews) - Indian shares were subdued on Monday after U.S. equities fell sharply on Friday, dragged down by technology stocks amid rising global uncertainties and caution ahead of the year-end holiday season.

The benchmark S&P/BSE Sensex was down 252 points, or 0.3 percent, at 78,447 in early trade while the broader NSE Nifty index dropped by 84 points, or 0.4 percent, to 23,729.

IT stocks traded lower, with Wipro, HCL Technologies and Infosys all falling more than 1 percent.

Mahindra & Mahindra and Trent also fell over 1 percent each while Adani Enterprises rallied nearly 3 percent after a report that the company expects to see consolidated revenue grow at a CAGR of 17.5 percent and net earnings by 45.8 percent over 2023-24 fiscal year (FY24) and FY27. Shares of group firm Adani Ports were up nearly 2 percent.

Vodafone Idea jumped more than 4 percent on positive news regarding the waiver of bank guarantees and settlement of Rs. 11,650 crore debt.