IT stocks drag Sensex, Nifty lower at open; Jio Platforms debut, Fed decision in focus
The decline comes despite a positive overnight session on Wall Street, where the S&P 500 rose 0.6% to close at 7,722
Equity markets opened lower on Wednesday, October 28, dragged down by a broad-based sell-off in technology stocks. The Sensex and Nifty both fell in the early trading session. Despite positive sentiment from Wall Street, the IT sector bore the brunt of the selling pressure, with major companies like Infosys, Tech Mahindra, HCL Technologies, and Tata Consultancy Services falling.
Brent crude prices rose above $115, negatively impacting the Indian economy and markets. The market remains cautious due to ongoing tensions in the West Asia and upcoming external factors such as Jio Platforms' market debut, the US Federal Reserve's policy decision, and quarterly earnings reports.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
