Indian Shares Open Lower Amid US-Iran Tensions

(RTTNews) - Indian shares fell in early trade on Wednesday, as a global tech sell-off deepened and the United States launched a major new wave of air strikes against Iran, targeting more than 80 military sites in response to Tehran's latest attacks on commercial shipping in the Strait of Hormuz.

The benchmark BSE Sensex dropped 480 points, or 0.6 percent, to 77,699 while the broader NSE Nifty index was down 140 points, or 0.6 percent, at 24,258.

Among the prominent decliners, Reliance Industries, Indigo, ITC and Asian Paints were down 2-3 percent.

Dilip Buildcon fell nearly 2 percent after reporting a landslide at a tunnel project in Kerala's Wayanad amid heavy rainfall.

Cochin Shipyard declined 2.6 percent after the government said it would exercise the oversubscription option in the offer for sale.

IdeaForge Technology rallied 2.3 percent after launching its QIP issue at a floor price of Rs 835.86 per share.

PC Jeweller soared 4.8 percent after repaying all outstanding debt under a settlement agreement with two consortium banks.