By Krishna V Kurup
"Investors are looking for indications from earnings due today. The commentary on the quarter is crucial; if it does not meet their expectations, the negatives will start to take on more weight," said Sunil Sharma, chief investment officer at Sanctum Wealth Management.
Rising inflation and interest rates remain a concern, he added.
"There is nervousness around crude oil as well. Fundamentally, investors are looking at the impact crude (prices) will have on the margins," Sharma said.
Oil inched away from three-year highs on signs that a 13-percent rally since early December may have run its course, although a surprise drop in U.S. production and lower crude inventories offered prices some support.
Among the gainers, GE Power India Ltd surged to a decade-high on bagging order worth about 8.18 billion rupees ($128.29 million).
(Reporting by Krishna V Kurup in Bengaluru; Editing by Amrutha Gayathri)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)