Oct 8 (Reuters) – Indian shares opened lower on Thursday, extending losses from the previous session after the central bank delivered a hawkish rate hike, while rising oil prices added to inflation worries.
The Nifty 50 (.NSEI), fell 0.23% to 22,545.85, while the BSE Sensex (.BSESN), shed 0.24% to 72,455.17, as of 9:18 a.m. IST.
Fifteen of the 16 major sectors declined at the open. The broader small-caps (.NIFSMCP100), and mid-caps (.NIFMDCP100), dropped 0.5% each.
IT index (.NIFTYIT), gained 1.9%, led by 2.7% rise in Tata Consultancy Services (TCS.NS), ahead of its September-quarter earnings due later in the day.
Benchmarks Nifty and Sensex snapped a two-session winning run on Wednesday after the Reserve Bank of India raised its benchmark repo rate by 25 basis points to 5.5%, marking the first hike in nearly four years amid mounting inflation and strong economic growth.
Brent crude jumped 2% to $102 a barrel on persistent worries about Middle East supplies amid increased attacks on shipping in the Gulf and the Strait of Hormuz.
Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Subhranshu Sahu
