Indian shares open lower as IT stocks slide; new NSE pre-open rules take effect

Indian shares opened lower on Monday, with technology stocks including Infosys and Tech Mahindra among the biggest drags as investors weighed concerns over US interest rates and rising geopolitical tensions, Money Control reported.

The Nifty 50 and BSE Sensex opened lower, while the Nifty IT index dropped sharply. Tech companies including Infosys, HCLTech, TCS and Wipro were under pressure after stronger-than-expected US jobs data raised expectations that the Federal Reserve could hold interest rates higher for longer.

Investor sentiment was also impacted by rising crude oil prices and tensions in the Middle East, with worries about possible disruptions to energy supplies adding to inflation concerns.

Also, revised rules for the National Stock Exchange’s pre-open session became effective on Monday. The 15-minute session stays, but the exchange has altered the framework governing order entry, modification and cancellation before regular trading. The NSE said the revised framework was effective from Sept. 7.

As the market opened, investors were looking to more global economic data and developments in the Middle East for guidance.