Markets open lower on higher oil prices, weak Infosys forecast

Indian shares opened lower on Friday, heading for a third consecutive session of losses, pressured by higher oil prices on Middle East tensions and a drop in ⁠IT ​stocks after Infosys issued a weak revenue forecast.

The Nifty 50 fell 0.30% to 24,100.55, ​and the ​BSE Sensex shed 0.23% ⁠to 77,483.80, as of 9:15 a.m. IST.

Eight of ‌the 16 major sectors declined at the open. The broader small-caps and mid-caps rose 0.3% and 0.2%, respectively.

IT index fell 1.6%, dragged down by ⁠a 3.3% ⁠drop in Infosys.

The country’s No. 2 IT company forecast ⁠annual ‌revenue growth below market ​expectations due to macroeconomic uncertainty ‌and tepid client spending.

The outlook overshadowed better-than-expected fourth-quarter results. Brent ‌crude ​hovered around $106 ​after ​Iran displayed its grip over the Strait of ​Hormuz with a video of ⁠its commandos storming a cargo ship following the collapse of peace negotiations ‌and ⁠U.S. President Donald Trump’s indefinite extension of the ceasefire.