Staff of Reuters Read for 2 minutes On January 31, 2020, a woman walks past the Bombay Stock Exchange (BSE) headquarters in Mumbai, India. FILE PHOTO: REUTERS/Francis Mascarenhas (Reuters) – BENGALURU (Reuters) – While investors anticipated news from Infosys, Indian markets fell on Wednesday as losses in banking stocks outpaced gains in IT businesses amid a larger dip in Asian stocks on inflation fears in the United States. The blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex were both down 0.07 percent at 15,801.35 and 52,724.67 points, respectively, as of 0351 GMT. Asian stocks slumped as global markets were rattled by the sharpest increase in U.S. inflation in 13 years, reigniting fears that the Federal Reserve will abandon pandemic-era support sooner than expected. The Nifty Bank index fell 0.6 percent in early trade in Mumbai, after closing 1.35 percent higher the previous day, while the Nifty IT index rose 1.06 percent. MindTree’s stock rose 4.7 percent after the business reported a 4.7 percent increase in consolidated net profit for the June quarter. Shares of larger rival Infosys were up 0.3 percent ahead of the company’s first-quarter earnings, which are expected to show a profit increase later in the day. Shivani Singh contributed reporting from Bengaluru, and Vinay Dwivedi edited the piece./n
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