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Indian Shares End Choppy Session Lower as Financials Slip

BENGALURU, Sept 6 (Reuters) - Indian shares closed a choppy session slightly lower on Tuesday, weighed down by heavyweight financials, although gains in energy and metal stocks limited some of the losses.

The NSE Nifty 50 index ended down 0.06% at 17,655.6, while the S&P BSE Sensex slipped 0.08% to 59,196.99, after swaying between gains and losses during the session.

The indexes got off to a muted start in September in the absence of any major triggers, after gaining for two consecutive months.

Asia's main stock markets also barely moved Tuesday, with MSCI's gauge of Asia-Pacific stocks outside Japan finishing 0.02% in the red. Meanwhile, oil fell as concerns returned about weaker demand and the prospect of more interest rate hikes.

In Mumbai, heavweights Bajaj Finserv and Bajaj Finance fell 2.3% and 1.1%, respectively.

Consumer goods companies Hindustan Unilever, Britannia Industries and Tata Consumer Products fell 1.1%-2.3%.

Index heavyweight Reliance Industries gained 1.1% after the company said it would acquire a 79.4% stake in California-based solar energy software developer SenseHawk for $32 million as part of efforts to boost renewable energy output.

Apollo Hospitals Enterprise advanced 3.1% and was the top percentage gainer on the Nifty 50, while Bharti Airtel was a close second with a 2.8% rise.

The Nifty Metal index climbed 1.3%, while the Nifty Energy index advanced 1.3%.

DreamFolks Services, India's largest airport service aggregator, soared 41.8% in its market debut. Shares climbed to as much as 549 rupees, as against an issue price of 326 rupees, before settling at 462.4 rupees.

Kalpataru Power Transmission rose 6.2% after the company won orders worth $168 million.

New Delhi Television slid 5% after surging more than 50% over the last nine sessions amid a takeover battle between its promoters and the Adani Group.

Reporting by Chris Thomas in Bengaluru; Editing by Dhanya Ann Thoppil

Source: Reuters

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