Indian Shares Drop On Middle East Tensions; IT Stocks Face Heavy Selloff

(RTTNews) - Indian shares ended lower on Monday, with rising U.S. bond yields and escalating Middle East tensions weighing on investors' appetite for risk. Long-dated global government bond yields reached new highs today as the release of much stronger-than-expected U.S. jobs data boosted the odds of a September rate hike by the Federal Reserve. Market attention is currently focused on critical U.S. inflation data due this week, which could heavily influence the Fed's rate trajectory and investors' appetite for risk. Meanwhile, rising oil prices on escalating Middle East tensions also kept investors on edge. Brent crude futures rose toward $97 a barrel as U.S. attacks on Iranian tankers and Tehran's threat of a new restricted zone outside the Strait of Hormuz raised concerns about prolonged disruptions to energy flows through the waterway. The benchmark 30-share BSE Sensex ended the session down 382.62 points, or half a percent, at 76,132.81, while the NSE Nifty index dropped 118.55 points, or half a percent, to 23,779.15. The BSE mid-cap index fell 0.6 percent while the small-cap index closed little changed. The market breadth was weak on the BSE, with 2,470 shares falling while 2,018 shares rose and 241 shares closed unchanged. IT stocks bore the brunt of the selling, with Infosys tumbling nearly 4 percent, Tech Mahindra losing 2 percent and TCS falling 1.3 percent after OenAI released GPT-6 Astra, a new-generation model described as the company's most intelligent and aligned model to date. Among other prominent decliners, Adani Ports, SBI, Asian Paints, Trent, UltraTech Cement, Bajaj FinServ and Tata Steel lost 1-2 percent.

(RTTNews) - Indian shares ended lower on Monday, with rising U.S. bond yields and escalating Middle East tensions weighing on investors' appetite for risk.

Long-dated global government bond yields reached new highs today as the release of much stronger-than-expected U.S. jobs data boosted the odds of a September rate hike by the Federal Reserve.

Market attention is currently focused on critical U.S. inflation data due this week, which could heavily influence the Fed's rate trajectory and investors' appetite for risk.

Meanwhile, rising oil prices on escalating Middle East tensions also kept investors on edge.

Brent crude futures rose toward $97 a barrel as U.S. attacks on Iranian tankers and Tehran's threat of a new restricted zone outside the Strait of Hormuz raised concerns about prolonged disruptions to energy flows through the waterway.

The benchmark 30-share BSE Sensex ended the session down 382.62 points, or half a percent, at 76,132.81, while the NSE Nifty index dropped 118.55 points, or half a percent, to 23,779.15.

The BSE mid-cap index fell 0.6 percent while the small-cap index closed little changed.