India Stocks: Indian shares open flat as US rate hike bets offset oil relief

Wipro

Wed 04:48

Updates for markets open

    June 24 (Reuters) - Indian shares opened little changed on Wednesday, as a fall in crude prices amid U.S.-Iran peace negotiations was tempered by growing expectations of tighter Federal Reserve policy.
The benchmark Nifty 50 .NSEI fell 0.12% to 23,795.80, while the BSE Sensex .BSESN added 0.04% to 76,229.76, as of 9:15 a.m. IST.
Twelve of the 16 major sectors logged losses at the open. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 were flat.    
Asian markets .MIAPJ0000PUS fell 0.5% after losing about 3.8% in the previous session, on a broad selloff in technology and semiconductor shares, and as expectations of a more hawkish Fed weighed. MKTS/GLOB       
Brent crude futures LCOc1 fell 1%, trading near four-month lows, on signs that more oil tankers stranded in the Gulf since the start of the Iran war are set to move out of the Strait of Hormuz. O/R
Indian blue-chips fell about 1.2% on Tuesday, dragged by heavyweight IT and metal stocks, after gaining over 4% each in the previous seven sessions through Monday.



 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))