BENGALURU - Indian shares declined on Thursday, tracking a slide in global equities after U.S. debt ceiling talks dragged on without a deal, although an uptick in fast moving consumer goods stocks capped losses.

The blue-chip Nifty 50 index was down 0.14% at 18,259.35 as of 10:38 a.m. IST, while the benchmark S&P BSE Sensex fell 0.14% to 61,686.95.

Eleven of the 13 major sectoral indexes logged losses. High-weightage financials and information technology (IT) were both down over 0.3%.

Adani Enterprises Ltd fell over 3% and was the top Nifty 50 loser after the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) shortlisted the stock in the short-term Additional Surveillance Measure (ASM) framework Stage-I, effective from May 25.

Stocks are placed in short-term or long-term ASM frameworks by exchanges to caution investors on high volatility in share prices.

Tata Motors Ltd lost 1.5% and was among the top Nifty 50 loser after UBS reiterated its "reduce" rating on the car maker, flagging weakness in its launch pipeline compared to market leader Maruti Suzuki India Ltd and potential saturation in market share due to competition.

On the flipside, fast moving consumer goods (FMCG) firm ITC Ltd jumped 2% and powered the index to rise 1%, following a report that tipped the company and Nestle India Ltd as finalists in the race for ingredients' maker Capital Foods Pvt Ltd. Nestle India rose 1%.

"Domestic markets have taken a pause with the Nifty facing minor resistance at higher levels (of) 18,400-18,450," said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.

Analysts also cautioned of high volatility on Thursday, ahead of the expiry of the May derivatives series.

($1 = 82.7271 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Sohini Goswami)