Indian shares fall as oil rise weighs; Jio lists at 21.4% premium

Indian equities opened lower on Wednesday as crude prices rose and investors awaited the US Federal Reserve’s policy decision. By 9:55 a.m., the Nifty 50 was down 0.41% at 22,657.35, while the Sensex had fallen 0.61% to 73,153.6, Business Recorder reported.

Jio Platforms began trading 21.4% above its issue price, becoming India’s second-largest listed company by market value. Losses affected 11 of 16 major sectors, with technology shares down 3.1%; Infosys lost 4.4%, while TCS and HCLTech each declined 3%. In contrast, small-cap stocks rose 0.7% and mid-caps gained 0.1%, extending their outperformance for a third session. Crude climbed 1.4% to $115.4 a barrel after an attack on a Saudi Arabian refinery renewed supply and inflation concerns. Bajaj Auto and Larsen & Toubro gained after results, while Raymond rose on a roughly 97% year-on-year increase in quarterly profit.