Indian shares trade flat; auto stocks gain

Published 10-03-2015, 12:46 pm
© Reuters.  Indian shares trade flat; auto stocks gain
WIT
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NSEI
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HROM
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MAHM
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TCS
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BSESN
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* BSE index down 0.01 pct; NSE index up 0.01 pct

* Tech stocks continue to fall after weak TCS guidance

MUMBAI, March 10 (Reuters) - Indian shares were trading flat on Tuesday as technology firms fell on worries about their outlook although auto makers gained after an industry body executive said it expected a revival in demand for vehicles.

The overall sentiment remained weak after a steep fall in the previous session, weighed down as Asian markets across the region remained under pressure over worries the U.S. Federal Reserve would start raising interest rates from mid-year. MKTS/GLOB

"Markets are likely to trade volatile for the near-term. People are waiting and are looking for fresh cues. However, overall outlook remains intact," said Suresh Parmar, head, institutional equities at KJMC Capital Markets.

The benchmark BSE index .BSESN was down 0.01 percent, while the broader NSE index .NSEI gained 0.01 percent.

Both indexes posted their biggest daily falls since Jan. 6, 2015 on Monday.

Software services exporters continued to fall with Tata Consultancy Services TCS.NS losing 0.7 percent, adding to its 1.8 percent fall in the previous session after a weaker-than-expected guidance for the Dec-March quarter. ID:nWNAS00HPL

Wipro Ltd WIPR.NS lost 1.01 percent.

Auto stocks however gained with Hero MotoCorp HROM.NS advancing 0.9 percent and Mahindra and Mahindra MAHM.NS gaining 2.7 percent after an executive from the Society of Indian Automobile Manufacturers forecast a revival in demand for vehicles. ID:nWNAS00I2G ID:nWNAS00I2D

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