INDIA STOCKS-Indian shares open lower on higher oil prices, weak Infosys forecast
April 24 (Reuters) - Indian shares opened lower on Friday, heading for a third consecutive session of losses, pressured by higher oil prices on Middle East tensions and a drop in IT stocks after Infosys issued a weak revenue forecast.
The Nifty 50 .NSEI fell 0.30% to 24,100.55, and the BSE Sensex .BSESN shed 0.23% to 77,483.80, as of 9:15 a.m. IST.
Eight of the 16 major sectors declined at the open. The broader small-caps .NIFSCMP100 and mid-caps .NIFMDCP100 rose 0.3% and 0.2%, respectively.
IT index .NIFTYIT fell 1.6%, dragged down by a 3.3% drop in Infosys INFY.NS.
The country's No. 2 IT company forecast annual revenue growth below market expectations due to macroeconomic uncertainty and tepid client spending. The outlook overshadowed better-than-expected fourth-quarter results.
Brent crude LCOc1 hovered around $106 after Iran displayed its grip over the Strait of Hormuz with a video of its commandos storming a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump's indefinite extension of the ceasefire.
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