REUTERS/Francis Mascarenhas/file photo Acquire Licensing RightsBENGALURU, Sept 28 (Reuters) - Indian shares struggled to add to initial gains on Thursday as weakness in global equities markets over fears of higher interest rates and surging crude prices weighed.
"Despite the correction, India has still outperformed the global markets..
But, we are also seeing many emerging risks like higher crude prices and depreciation in rupee," said Samrat Dasgupta, chief executive at Esquire Capital Investment Advisors.
Crude prices, which rose 3% overnight will hurt India, the world's third-largest importer, which is also reeling under lower-than-expected monsoon rains, triggering inflation risks.
Among sectoral indexes, information technology stocks (.NIFTYIT) fell 0.8%, metals (.NIFTYMET) gained 0.6%, while the public sector banks (.NIFTYPSU) climbed 0.9%.
Persons:
Francis Mascarenhas, Samrat Dasgupta, Esquire's Dasgupta, Sohini Goswami, Dhanya Ann Thoppil
Organizations:
Bombay Stock Exchange, REUTERS, Rights, BSE, Esquire Capital Investment Advisors, Treasury, Federal Reserve, Oil India, ICICI Lombard, Sethuraman NR, Thomson
Locations:
Mumbai, India, Bengaluru