BENGALURU, Aug 17 (Reuters) - Indian shares extended their
record-high closing run to a fourth day on Tuesday as gains in
IT and consumer stocks and falling domestic COVID-19 cases
helped offset losses in metal and banking stocks and investor
concerns around global economic growth.
The blue-chip NSE Nifty 50 index ended 0.31% higher
at 16,614.6, while the benchmark S&P BSE Sensex was up
0.38% at 55,792.27.
Aiding sentiment, India recorded a sharp decline in daily
new COVID-19 infections that fell to 25,166, the lowest since
March 16, while it administered more than 8.8 million doses of
vaccines in the past 24 hours, close to its all-time record set
in June, government data showed.
The Nifty IT index ended up 2.57%, led by Tech
Mahindra, Infosys, TCS and MindTree
, as the sector continued to be buoyed by positive
earnings announcements and its lower exposure to the effects of
Consumer goods majors, including Tata Consumer,
Jubilant Foodworks, Nestle and Emami
boosted the Nifty FMCG index, which ended up 1.4%.
The Nifty PSU Bank index slipped as much as 2.5%
before closing 1.79% lower, dragged by losses in Indian Bank,
Maharashtra Bank and Canara Bank among others.
Metals fell 2.30%, with Vedanta,
Welspun Corp and NMDC among top losers.
Global shares stumbled on Tuesday, rattled by concerns over
China's regulations for its internet sector, a worldwide spike
in COVID-19 infections, and ahead of the release of U.S. retail
sales data which is expected to offer further signs of slowing
In early European trade, the pan-European STOXX 600
shed 0.5%, its lowest level in more than a week.
(Reporting by Vishwadha Chander in Bengaluru; editing by Vinay