Individuals stand outdoors the Bombay Inventory Alternate (BSE), after Sensex surpassed the 60,000 stage for the primary time, in Mumbai, India, September 24, 2021. REUTERS/Francis Mascarenhas

BENGALURU, Sept 1 (Reuters) – Indian shares fell over 1% early Thursday, pulled down by losses in info know-how and banks, whereas a authorities transfer to boost taxes on gasoline exports and home crude hammered power shares.

The NSE Nifty 50 index (.NSEI) was down 1.2% at 17,552, as of 0351 GMT, whereas the S&P BSE Sensex (.BSESN) dropped 1.23% at 58,806.99.

The Nifty IT index (.NIFTYIT) dropped 1.7%. Moreover, the financial institution index fell 0.9%.

Indian authorities late Wednesday raised taxes on aviation, diesel gasoline exports, home crude oil, dragging the power index (.NIFTYENR) down 1%. learn extra

Shares of SpiceJet (SPJT.NS) slumped as a lot as 14.7% after its chief monetary officer resigned, with the low-cost service posting a wider quarterly loss and dealing with elevated scrutiny over mid-air incidents. learn extra

In the meantime, India’s financial system grew at its quickest tempo of 13.5% year-on-year within the April-June quarter, although economists flagged that development may lose momentum in coming quarters as greater rates of interest cool financial exercise. learn extra

Reporting by Nallur Sethuraman in Bengaluru;Enhancing by Dhanya Ann Thoppil

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