Indian shares give up early gains as IT stocks drag; US election results in focus
INDA•India’s Nifty 50 and BSE Sensex fell 0.2% after giving up morning gains of as much as 0.6%, as IT stocks dropped 2.2%; investors also focused on US midterm results.
1. Benchmarks turn lower
India’s Nifty 50 and BSE Sensex each fell 0.2%, reversing early gains of as much as 0.6%. IT stocks dropped 2.2%, while 13 of 16 major sectors traded higher; small-caps rose 0.9% and mid-caps gained 0.7%.
2. Election results in focus
The article said Democrats captured majorities in both chambers of the US Congress. It said the results may affect energy prices, global trade, AI investments and the US fiscal deficit; Brent crude futures rose 0.5% to $104 a barrel.
