India stocks open higher, led by financials; Mideast tensions cap gains
EPI•IT stocks fall after IBM revenue forecast
IT index .NIFTYIT fell 1.4% after global technology firm and bellwether IBM Corp IBM.N forecasted Q2 revenue below analyst estimates.
Broader markets gain while financials recover
Fifteen of the 16 major sectors gained. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.6% and 0.5%, respectively. Financials .NIFTYFIN gained 0.9% after losing 1.1% in the previous session.
Indian shares open higher as financials rebound
July 15 (Reuters) - Indian shares opened higher on Wednesday, as financials rebounded, with softer-than-expected U.S. inflation data easing near-term rate-hike concerns and lifting sentiment across Asian markets.
Concerns over escalating U.S.-Iran tensions kept a lid on gains, with the two countries exchanging strikes and battling for control of the Strait of Hormuz.
The benchmark Nifty 50 .NSEI rose 0.36% to 24,138.25, while the BSE Sensex .BSESN added 0.38% to 77,352.26 by 9:18 a.m. IST.
Oil rises as inflation data supports risk sentiment
Brent crude LCOc1 climbed 1.4% to $86 a barrel, after U.S. President Donald Trump reimposed a naval blockade on Iranian ports and Tehran responded with strikes on U.S. infrastructure in the Middle East.
However, softer-than-expected U.S. inflation in May lifted Wall Street and Asian equities, cushioning risk sentiment.
Lower U.S. inflation supports emerging markets such as India by keeping near-term rate-hike risks at bay, easing dollar pressure and encouraging foreign flows into risk assets. O/R
