Indian shares pare early losses as gains in IT stocks cushion Mideast worries

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13/07/2026 07:39

** India's Nifty 50 .NSEI and BSE Sensex .BSESN down 0.3% each
** Pare some of their losses after dropping as much as 0.9% earlier, as IT index .NIFTYIT jumps 3% amid focus on earnings
** Tata Consultancy Services TCS.NS surges 5.3%, rises for second session after better-than-expected Q1 revenue growth, while leadership changes at key business verticals and a multi-million dollar deal with ABB also boost sentiment
** HCLTech HCLT.NS up 3.6% ahead of earnings release later in the day
** Overall, thirteen of the 16 major sectors trade lower; broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 down 0.2% and 0.3%, respectively
** Heavyweight financials .NIFTYFIN down 0.5%, led by a 1% drop in HDFC Bank HDBK.NS
** U.S. and Iranian forces exchange heavy missile and drone assaults, with Tehran targeting U.S. facilities in states across the Gulf on Sunday and saying it had again closed the vital Strait of Hormuz
** Puravankara PURA.NS up 9% as pre-sales and collections rise in Q1
     

(Reporting by Vivek Kumar M)
((VivekKumar.M@thomsonreuters.com;))