BENGALURU, Sept 21 (Reuters) - Indian shares were stuck in a
tight range on Tuesday as gains in some energy and consumer
goods stocks countered losses in auto scrips, while increasing
worries China Evergrande could default on its massive debt pile
kept markets under pressure globally.
The blue-chip NSE Nifty 50 index eased 0.03% to
17,391.55 by 0500 GMT, and the benchmark S&P BSE Sensex
slipped 0.05% to 58,462.56.
On Monday, Indian shares dropped 1% as metal stocks plunged
more than 6% and fears of a default by property giant China
Evergrande rattled world equity markets. On Tuesday,
metal stocks were trading 0.2% higher.
Investors are now awaiting cues on the U.S. monetary policy
from a Federal Reserve meeting starting later in the day. The
central bank is likely to lay the groundwork for an eventual
tapering of its bond buying programme.
Auto stocks fell to their lowest in more than a
week, with carmaker Maruti Suzuki India shedding 2.6%.
Banks dropped 1% in their second straight
sessions of falls, with Central Bank Ltd declining
State-owned explorer Oil and Natural Gas Corp
jumped more than 3% to be the top gainer on the Nifty 50 index,
while Hindustan Unilever advanced 1.7% to help the
consumer goods sub-index advance 0.5%.
Real estate stocks climbed after two straight
sessions of losses and were the best performing sector, with
Godrej Properties advancing more than 5% to lead the
Signs of a rebound in sales for home builders and the easing
of COVID-19 restrictions lifted sentiment in the sector, said
Ajit Mishra, vice president of research at Religare Broking.
In broader Asia, markets were jittery amid fears of a China
Evergrande default rippling through the Chinese property market,
while trading was thin due to holidays in China, Taiwan and
(Reporting by Soumyajit Saha in Bengaluru; Editing by