BENGALURU, Oct 19 (Reuters) - Indian shares snapped a
seven-session winning streak on Tuesday, dragged down by metal
and bank stocks, while the country's top cigarette maker ITC
plunged 6% after the government decided to form a group for
tobacco tax policy.
The NSE Nifty 50 index ended down 0.3% at 18,418.75,
while the S&P BSE Sensex dropped 0.1% to 61,716.05.
Earlier in the session, the NSE hit a record high of 18,604.45.
The Nifty metals index fell 2.5%, having gained
nearly 4% in the previous session, while the public sector bank
index dropped 3.73% after rising for seven straight
"Markets are seeing some profit-taking as we are making new
highs every day. But broadly, we are seeing buying interest
emerging at every depth," said Ajit Mishra, vice president for
research at Religare Broking.
ITC Ltd was the top loser on the Nifty, falling
more than 6% after a health ministry document showed that the
government has decided to constitute an expert group to develop
a comprehensive tax policy for all tobacco products.
Hindustan Unilever ended down 4% after the consumer
giant said its gross margins would likely remain under pressure
due to elevated commodity prices, even though it reported higher
profit for the September quarter.
The Nifty IT index rose 2.2% and was the top
gainer among the sub-indexes. Shares of Larsen and Toubro
Infotech surged 16% after strong September-quarter
TTK Prestige surged as much as 20% to a record
high of 10,587.15 rupees after the kitchen appliance maker said
it would consider a sub-division or a split of shares.
Indian Energy Exchange also soared to a record
peak on Tuesday after the energy trading platform said it would
consider a bonus issue of shares.
(Reporting by Nallur Sethuraman in Bengaluru; Editing by