BENGALURU, Nov 16 (Reuters) - Indian shares ended lower on
Tuesday as losses in finance and energy sectors wiped out gains
from auto and tech stocks, with Reliance Industries
and State Bank of India weighing on the blue-chip Nifty
The NSE Nifty 50 index ended 0.61% lower at 17,999.2
and the benchmark S&P BSE Sensex fell 0.65% to
The Nifty Bank Index fell as much as 1.27% before
ending 1.02% lower, as concerns over rising prices and inflation
SBI and Federal Bank were the bottom performers on
the sub-index, falling 2.26% and 2.16%, respectively.
"Mixed global cues are keeping participants on the edge and
we expect the trend to continue, at least in the near future,"
Ajit Mishra, VP-Research, Religare Broking, wrote in a note.
"Among the sectors, the continuous underperformance of the
banking pack was dragging the benchmark lower while others
helped the index cap the damage," he added.
Among energy stocks, Adani Transmission, Reliance
Industries and NTPC Ltd closed lower, shedding 2.99%,
2.32% and 2.08%, respectively, while the Nifty Energy Index
ended 1.34% down.
Auto stocks, however, were upbeat, rising as
much as 3.35% before ending the day 2.48% higher.
Maruti Suzuki gained as much as 8.3% to record its
biggest intraday gain since April 2020, before ending 7.29%
Mahindra and Mahindra Ltd and Tata Motors
climbed 3.44% and 2.69%, respectively.
Gains in IT company Coforge, which ended 4.10%
higher after filing to list American depositary shares on the
New York Stock Exchange, helped boost the Nifty IT Index
Global stock markets marched towards new peaks on Tuesday as
U.S. President Joe Biden and Chinese leader Xi Jinping held over
three hours of virtual talk, helping to nudge China's yuan to a
five-month high and pulling the dollar lower.
(Reporting by Vishwadha Chander in Bengaluru; editing by
Uttaresh.V and Krishna Chandra Eluri)