IT leads losses in Indian shares ahead of monthly derivatives series expiry
** NSE Nifty 50 .NSEI and BSE Sensex .BSESN lose ~1.2% each, dragged down by IT stocks - top loser among 13 major sectors
** IT index .NIFTYIT drops 2.4% after U.S. inflation data triggered uncertainties over the Fed's rate cut trajectory and client spending in the U.S., a key market for IT sector
** Sub-index down 0.85% so far this week, after gaining ~7% in last three weeks
** "Markets finding excuse for profit booking in IT stocks" - Santosh Meena, head of research at Swastika Investmart
** "November derivatives series expiry also contributing to the fall as traders adjust their positions ahead of expiry, leading to heightened volatility"
** Eight of 10 Adani group stocks rise, extending rebound from selloff triggered by U.S. indictment of group's founder
** Adani group denied allegations
** Paytm PAYT.NS hits over 1-year high after UBS more than doubles PT
** Small- .NIFSMCP100 and mid-caps .NIFMDCP100 trade flat, paring early gains
Reporting by Bharath Rajeswaran in Bengaluru
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