L&T drags Indian bluechips at open, volatility index climbs
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Indian shares edged lower on Thursday, dragged by losses in construction major Larsen and Toubro (L&T) after a downbeat fiscal 2025 revenue growth outlook, while elevated volatility fuelled investor pessimism.
The blue-chip NSE Nifty 50 fell 0.2% to 22,264 while S&P BSE Sensex shed 0.2% to 73,311 as of 9:23 a.m IST.
L&T, among top Nifty heavyweights, dropped as much as 5.6% in early trade and was on track to be the top percentage loser on the benchmark after it forecast a subdued revenue growth outlook.
Meanwhile, India's volatility index rose 2.6% to 17.51, setting the stage to gain for an eleventh straight session, as uncertainty around the results of national elections led to relentless foreign selling, keeping investors jittery.
