Indian shares open lower on broad-based selling as Mideast conflict intensifies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 03 2024
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Source: Reuters
Market Decline: Indian shares opened lower, with the Nifty 50 index down 0.97% and the S&P BSE Sensex shedding about 1%, as most sectors faced losses amid rising tensions in the Middle East following Iran's missile attacks on Israel.
Sector Impact: Realty and auto stocks led the declines, while consumer goods firm Dabur experienced a 6% drop after forecasting its first revenue decline since 2020; brokerage stocks also fell due to tightened regulations on equity derivatives trading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
