BENGALURU (Businesshala) – Indian stocks edged off record levels and turned muted early Tuesday, as auto stocks edged higher for a fourth straight session and 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 the indices had touched record highs in the previous session.
IT stocks tumbled for the second session on Tuesday, 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 loser in the Nifty private bank index, plunging 0.35%.
Nifty automakers added 0.76%, the Jaguar Land Rover maker said, as Tata Motors extended gains for the fourth straight session. Here Global wholesale sales in the second quarter were up 24% from a year ago.
Asian shares fell and MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9% as a global energy crunch weighed on investor sentiment and intensified fears of inflation. [MKTS/GLOB]