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INDIA STOCKS-Indian shares open lower as oil concerns persist, IT leads losses

By Reuters News

Oct 26 (Reuters) - Indian shares opened lower on Monday as sentiment remained subdued over elevated crude oil prices and their impact on inflation, with investors focused on the US Federal Reserve's policy decision later this week.

The benchmark Nifty 50 .NSEI fell 0.46% to 22,499.3, and the Sensex .BSESN shed 0.36% to 72,833.84, as of 09:15 a.m. IST.

Thirteen of the 16 major sectors logged losses at the open. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lost 0.3% and 0.6%, respectively.

IT stocks .NIFTYIT shed 2.3%, leading the losses. Infosys INFY.NS lost 3.4% after it slashed its annual revenue growth forecast as weakness in its key North American market outweighed its higher-than-expected revenue.

Brent crude futures traded around $114 a barrel, easing from a near six-month high of $117 after the Indian market close on Friday, though ongoing attacks on Saudi Arabia kept supply concerns in focus. O/R

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