Indian Shares Extend Recent Losses On Tariff, Iran-linked Inflation Worries

(RTTNews) - Indian shares traded lower in early trade on Friday, with key benchmark indexes extending losses for a fifth consecutive session, as Brent crude prices rose above $100 a barrel on escalating Middle East tensions and the U.S. imposed 10 percent tariffs on Indian imports, citing forced labor issues.

The 30-share BSE Sensex was down 745 points, or 1 percent, at 75,647 while the NSE Nifty index fell by 212 points, or 0.9 percent, to 23,656.

Among the prominent decliners, UltraTech Cement, Larsen & Toubro, Eternal, Bharti Airtel and Bajaj Finance all fell around 2 percent.

InterGlobe Aviation, the parent company of IndiGo, dropped 2.4 percent after it posted a consolidated net loss of Rs. 238 crore for the quarter ended June.

NTPC fell about 1 percent and Shriram Finance tumbled 2.5 percent ahead of their quarterly results due today.

Meesho plummeted 4.6 percent after posting a net loss of 133 crore for the June quarter.

Infosys declined 1.6 percent after lowering its full-year revenue growth forecast. Suryoday Small Finance Bank surged over 10 percent after quarterly profit more than doubled amid significant growth in deposits and loan segments.

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