Indices snap two-week winning streak, IT shares emerge as top laggards
Benchmark equity indices snapped a two-week winning streak as investors resorted to profit booking amid concerns over rising crude oil prices, which surged 20% to $107.5 per barrel. Persistent geopolitical uncertainty due to lack of progress in US–Iran peace talks kept investors on edge as well.
Additionally, IT stocks came under significant selling pressure due to subdued earnings and weak guidance for the current fiscal.
