By Reuters
India鈥檚 equity benchmarks edged down on Monday as worries of weak quarterly results by information technology companies overshadowed gains in other sectors.
The Nifty 50 fell 0.27% to 25,082.3 points, while the BSE Sensex lost 0.3% to 82,253.46.
The IT index slid 1.1% and was the biggest sectoral loser, extending its 4% fall last week, as uncertainty over U.S. tariffs continued to weigh on demand.
Sector leader Tata Consultancy Services posted weak results last week, which propelled investors to remain cautious ahead of the earnings from other companies in the sector, analysts said.
HCL Technologies dropped 1.1% ahead of its earnings on the day.
鈥淭CS numbers were below average and that has changed the mood of the IT sector,鈥 said Arun Malhitra, fund manager at CapGrow Capital.
Meanwhile, U.S. President Donald Trump on Saturday said he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations.
India鈥檚 equity benchmarks