INDIA STOCKS Indian shares fall as autos drag; U.S. inflation data eyed
BENGALURU, Nov 10 (Reuters) – Indian shares edged lower on Thursday, dragged by auto and metal companies, as investors brace for crucial U.S. inflation data that will provide clues about the severity of Federal Reserve’s future interest rate hikes. The Nifty auto index (.NIFTYAUTO) fell 1.5%, led by 5% drop in Tata Motors (TAMO.NS) after the automaker reported a quarterly loss on Wednesday. read more
Reporting by Nallur Sethuraman in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen Soreng
BENGALURU, Nov 10 (Reuters) – Indian shares edged lower on Thursday, dragged by auto and metal companies, as investors brace for crucial U.S. inflation data that will provide clues about the severity of Federal Reserve’s future interest rate hikes.
The NSE Nifty 50 index (.NSEI) dropped 0.5% to 18,319.30 as of 0349 GMT, while the S&P BSE Sensex (.BSESN) fell 0.52% to 60,715.98.
U.S. consumer price index (CPI) data for October is due at 1330 GMT, with economists polled by Reuters forecasting a decline in both monthly and yearly core numbers to 0.5% and 6.5%, respectively.The Nifty auto index (.NIFTYAUTO) fell 1.5%, led by 5% drop in Tata Motors (TAMO.NS) after the automaker reported a quarterly loss on Wednesday . read more
The metals index (.NIFTYMET) was down 0.5%.
Shares of Axis Bank (AXBK.NS) fell 2% after Indian government proposed to sell a 1.55% stake in the private lender. read more
