Indian shares end subdued amidst caution ahead of quarterly results

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India. REUTERS

India shares ended little changed on Wednesday as investors braced for caution ahead of the quarterly earnings starting later this week.

Asia's stock rally to record highs took a breather after six straight days of gains until Tuesday.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent. Japan's Nikkei also shed 0.2 percent, slipping from 26-year highs hit the day before, according to Reuters data.

The S&P BSE Sensex shed 0.03 percent at 34,433 while the broader NSE Nifty declined 0.05 percent to 10,632.

Also Read: Noble Group set to close its London oil desk

December-quarter earnings are set to kick-start this week, with Tata Consultancy Services due on Thursday, followed by Infosys on Friday.

Among the top Sensex fallers, Asian Paints dropped 1 percent, NTPC fell 1.3 percent, Dr. Reddy's lost 1.4 percent while Bajaj Auto was down 1 percent.

Phillips Carbon Black lost 2.2 percent after FIL Investments (Mauritius) sold 0.7 percent stake in the company.

But KSK Energy Ventures climbed 5 percent after Societe Generale bought 1.3 percent interest at an average price of Rs17.86.

Infosys gained 1 percent after the company signed an advance pricing agreement with the U.S. Internal Revenue Services, which would result in a reversal of $225 million of tax provisions.

Electrosteel Steels advanced 4 percent after the company received resolution plans from Tata Steel, Vedanta, Edelweiss ARC and Renaissance Steel.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

This article was first published on January 10, 2018