Indian equity indices extend losses, Sensex falls nearly 300 pts

Indian equity indices extended their losses from the previous session and traded lower in early trade on Tuesday.

At 9.46. a.m., Sensex was 0.5 per cent or 295 points down at 58,670 points, whereas Nifty was 0.6 per cent or 112 points down at 17,563 points.

IT stocks are likely to do well as Tata Consultancy Services results indicate robust deal wins and order flows, said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

IT services major Tata Consultancy Services on Monday reported a year-on-year rise of 7.4 per cent in its consolidated net profit for the fourth quarter of FY22 at Rs 9,926 crore.

"TCS results are in line and marginally above expectations. This can support IT stocks even if there is some profit booking," Vijayakumar said.