Indian shares slide as finance, energy sectors drag

The blue-chip NSE Nifty 50 index slipped 0.18% to 18,076.2

  
A stock broker looks at a terminal while trading at a stock brokerage firm in Mumbai November 17, 2008.

A stock broker looks at a terminal while trading at a stock brokerage firm in Mumbai November 17, 2008.

Reuters/Arko Datta

BENGALURU: Indian shares fell on Tuesday as losses in finance and energy sectors outweighed gains in tech and metal stocks.

The blue-chip NSE Nifty 50 index slipped 0.18% to 18,076.2 and the benchmark S&P BSE Sensex fell 0.22% to 60,598.6 by 0351 GMT.

The Nifty Bank Index dropped 0.5%. Federal Bank, IDFC First Bank, and Kotak Mahindra Bank — down between 0.65% and 1.21% — led the losses on the sub-index.

Major energy stocks, such as Adani Transmission and Reliance Industries shed 2.4% and 0.73% respectively. The Nifty Energy Index was down 0.47%.

Tech stocks, however, were upbeat, led by gains in Coforge. The IT company jumped 6.87% to hit a one-month high after saying it was filing to list American depositary shares on the New York Stock Exchange.

The Nifty Metal Index was also up 0.90%, helped by shares of Vedanta Ltd and JSW Steel.

Broader Asian shares were mostly higher as relief in China's property sector supported sentiment, while investors also kept a close eye on a key meeting between U.S. President Joe Biden and Chinese leader Xi Jinping. 

(Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V) ((Vishwadha.Chander@thomsonreuters.com; Mobile: +91 7506036802; Twitter: https://twitter.com/vishwadha;))


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