Indian shares opened lower on Monday, dragged by index heavyweights Reliance and ICICI Bank after they missed their quarterly profit estimates, while Wipro also tumbled on a subdued revenue forecast for the March quarter.
The Nifty 50 fell 0.45 per cent to 25,582, while the Sensex shed 0.4 per cent to 83,224.86, as of 9:17 a.m. IST.
Twelve of the 16 major sectors opened lower. The broader small-caps and mid-caps fell 0.4 per cent and 0.2 per cent, respectively.
IT index fell 0.6 per cent, dragged by Wipro, which lost 9.2 per cent. The country’s fourth-largest IT services firm forecast weaker-than-expected revenue growth for the ongoing March quarter after deal booking fell to a six-quarter low in the December period.
Index heavyweights Reliance and ICICI Bank fell 2 per cent and 2.5 per cent, respectively, after missing third-quarter profit expectations.