320-x-100_uti_gold.jpg" alt="Advertisement">
Indian shares fall as TCS earnings weigh on tech stocks
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Indian shares fell on Monday, dragged by technology companies after top IT services provider Tata Consultancy Services missed estimates for June-quarter profit.
The NSE Nifty 50 index was down 0.4% at 16,153.05, as of 0348 GMT, while the S&P BSE Sensex fell 0.42% to 54,250.60.
Shares of TCS fell 2.3%, after it missed quarterly profit estimates by a wide margin as employee-related expenses soared. The index heavyweight also pulled down tech index by 2%.
D-Mart owner Avenue Supermarts jumped 2.9% after reporting strong quarterly results.
Looking ahead, India's retail inflation data is due this week, with a Reuters poll showing that the reading likely held steady in June but well above the Reserve Bank of India's tolerance limit for a sixth month.
