Indian shares slip for third day; CEAT, Bajaj Auto drop
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BENGALURU (Reuters) - Indian shares fell for a third straight session on Thursday as technology stocks continued their descent, while Bajaj Auto and tyre maker CEAT slid after reporting weak results.
The blue-chip NSE Nifty 50 index was down 0.24% at 17,894.5 by 0405 GMT, while the S&P BSE Sensex edged 0.33% lower to 59,902.82.
IT major Infosys tumbled 2.4%, dragging the Nifty IT index to its lowest in a month, after the tech-heavy Nasdaq fell into a correction territory in overnight U.S. trading amid inflation concerns. [.N]
Automaker Bajaj Auto fell as much as 1.7% after reporting a bigger-than-expected fall in profit, while CEAT plunged 7.6% after registering a quarterly loss.
Non-bank lender PTC India Financial services sank as much as 16.6% after saying its three independent directors resigned citing lapses in corporate governance.
Investors are also awaiting earnings reports from Nifty 50 components Hindustan Unilever, Bajaj Finserv, and Asian Paints.
