Indian shares recover late losses as IT stocks drag
Indian benchmarks pared intraday losses on Wednesday following reports of potential tax cuts for foreign investors and measures to support the rupee. The Nifty 50 closed 0.33% lower as a 5.6% drop in IT stocks and rising Brent crude prices at $99 a barrel weighed on market sentiment.
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India shares pared intraday losses on Wednesday as reports of government measures to support the rupee and attract foreign capital offset an IT selloff. The Nifty 50 closed 0.33% lower at 23,405.6, while the BSE Sensex lost 0.41% to 74,346.17. The recovery follows record foreign outflows of $26.8 billion this year as investors exit Indian equities due to high oil prices and limited AI exposure.
