From Nasdaq:

India’s main indexes saw a decline as global markets slid, primarily dragged by information technology stocks. The NSE Nifty 50 index fell 0.41% and the S&P BSE Sensex shed 0.47%. The IT index fell 2.2%, with prominent companies like Wipro and Infosys among the top Nifty 50 losers.

Samrat Dasgupta, chief executive of Esquire Capital Investment Advisors, noted the possibility of profit booking but highlighted 21,500 as a strong support level for the Nifty 50. IT stocks are expected to be under pressure during the earnings season due to a lack of fundamental positive changes in the client budget.

Adani group stocks climbed ahead of the Supreme Court of India’s judgment on petitions related to U.S. short-seller Hindenburg Research’s allegations against the conglomerate. Meanwhile, Adani Enterprises and Adani Ports and Special Economic Zone topped Nifty 50 gainers, with Rail Vikas Nigam also registering a 2.7% increase after securing a significant railway station redevelopment order.

The Fed minutes and key labor market data expected later in the week will provide insights into the potential rate cuts. In addition, VST Industries saw a 2% rise on stake addition through block deals by high net-worth individual Radhakishan Damani. The overall event concluded with VST Industries rising and Rail Vikas Nigam getting a significant order.

The day’s trading activity also was influenced by an upcoming judgment on the petitions seeking an independent probe into allegations against the Adani Group and by a large order received by Rail Vikas Nigam.



Read more: INDIA STOCKS-IT drags Indian shares lower amid global slide