BENGALURU (Reuters) - Indian shares inched away from record levels and were muted early on Tuesday, as auto stocks gained for a fourth straight session and offset losses in IT firms and some private banks.
The NSE Nifty 50 index was up 0.08% at 17,963.60, while the S&P BSE Sensex was up 0.03% at 60,163.01 by 0348 GMT. Both indexes had scaled record peaks in the previous session.
IT stocks led losses on Tuesday, falling for a second session, with the Nifty IT index down 0.7%. Shares of HCL Technologies fell nearly 2% and were among the top losers on the blue-chip index.
Lender ICICI Bank fell nearly 1% and was the top drag to Nifty’s private bank index, which lost 0.35%.
Nifty automakers added 0.76% as Tata Motors extended gains for a fourth straight session, a day after the Jaguar Land Rover maker said global wholesales in the second quarter were up 24% from a year earlier.
Asian shares inched lower and the MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9% as a global energy shortage blighted investor sentiment and intensified inflationary fears.
Reporting by Chandini Monnappa in Bengaluru; Editing by Ramakrishnan M.
Source: Reuters