Indian stocks barely moved amid Iran war and rupee concerns
Business
The Indian stock market barely moved on Monday (Sensex inched up 0.1%, and Nifty was almost unchanged) after bouncing back from early losses.
Investors were cautious, thanks to worries about the Iran war, a falling rupee, and higher energy prices, but the day wasn't all gloom.
IT stocks jump as dollar strengthens
IT stocks jumped 2.4% as a stronger dollar boosted hopes for exporters, helping offset declines in 11 out of 16 sectors. Small- and mid-cap stocks also slipped.
Meanwhile, the rupee hit a new record low of 96.35 to the dollar, adding to market jitters.
Over in banking news, Jana Small Finance Bank's shares fell nearly 6% after TVS Group picked up a stake in the company.