Indian Shares Dip as Profit-Taking Weighs on Markets; Airtel, Amber Enterprises Drag Indices
India’s benchmark equity indices opened lower on Friday as broad-based profit-taking overshadowed optimism around strong corporate earnings and progress in India–U.S. trade discussions. The NSE Nifty 50 fell 0.47% to 25,390.4, while the BSE Sensex declined 0.48% to 82,904.17 in early trade. All 16 major sectoral indices slipped, with small- and mid-cap stocks down 0.8% and 0.5%, respectively.
Bharti Airtel shares slid nearly 4% after reports that a unit of Singapore Telecommunications planned to sell $1.18 billion worth of its stake at a discount. Data from LSEG showed multiple block deals in the telecom major’s stock. Meanwhile, Amber Enterprises plunged 12.5% after reporting a quarterly net loss, and Crompton Greaves Consumer Electric fell 2% following weak cooling equipment sales.
Despite hopes of a positive outcome from ongoing U.S.–India trade talks, market sentiment remained cautious amid concerns over delayed U.S. rate cuts and persistent foreign outflows. Analysts attributed the weakness to profit booking after strong October gains. On the upside, Lupin rose 1.3% and Life Insurance Corporation of India advanced 1% after both companies reported higher quarterly profits.
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