Indian shares edge lower as Infosys gives up gains after results

Thursday,   14-Jan-2021   10:03 AM (IST)

Indian shares inched lower on Thursday, weighed down by Infosys as investors locked in some gains after the heavy weight posted December-quarter results, while they waited for more details on a major stimulus package in the United States. The blue-chip NSE Nifty 50 index .NSEI fell 0.1% to 14,543 and the benchmark S&P BSE Sensex was down 0.2% to 49,373.11 by 0346 GMT. Shares of Infosys Ltd which rose over 6% this week in the run up to results till Wednesday, were down 2.6% in early trading. Infosys Ltd, the country's second biggest software services firm by market value, on Wednesday raised its annual revenue growth forecast after a rise in Dec. quarter profit and revenue, while Wipro also reported an increase in consolidated net profit. The Nifty IT index fell 1.6%. Meanwhile, investors were looking out for details on a hefty COVID-19 relief package, which President-elect Joe Biden is due to unveil on Thursday.