Earnings worries take shine off U.S. rate optimism to drag Indian shares

Indranil Sarkar - Reuters - 24/01
Indian shares gave up opening gains to inch lower on Friday, as worries over moderation in corporate earnings overpowered optimism about lower U.S. interest rates and oil prices.
Jan 24 (Reuters) - Indian shares gave up opening gains to inch lower on Friday, as worries over moderation in corporate earnings overpowered optimism about lower U.S. interest rates and oil prices.
The Nifty 50 (.NSEI), opens new tab fell 0.3% to 23,137.25 points as of 10:19 a.m. IST, while the BSE Sensex (.BSESN), opens new tab shed 0.25% to 76,334.03.
On Thursday, U.S. President Donald Trump said he wanted to lower global oil prices, interest rates and taxes, sending Wall Street equities and other Asian markets higher.
Lower U.S. rates could lead to foreign inflows into emerging markets such as India, while lower oil prices are also a positive for net oil-importing countries, including India.
Those comments helped the Indian market in early trade before concerns over Trump's tariff plans and domestic earnings resurfaced.
"While Trump rooting for lower interest rates and lower oil prices overnight is a sentimental positive, the uncertainty over his tariff policies still remains and it's an ev...
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