Indian shares lackluster after record gains; SBI gains 4%

india trader
A trader looks on while trading at a stock brokerage in Mumbai. REUTERS

India shares ended little changed on Wednesday, as investors took a pause after indexes hit fresh record highs in the previous session.

Risk appetite got a lift on news reports that the government is mulling 100 percent foreign direct investment in the banking sector.

The S&P BSE Sensex added 0.06 percent at 36,161 while the broader NSE Nifty advanced 0.02 percent to 11,086.

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Among the top Sensex gainers, Tata Consultancy Services rose 2.4 percent, Dr. Reddy's gained 2 percent, State Bank of India added 3.5 percent while Adani Ports was up 2.4 percent.

L&T Technology Services jumped 20 percent after the company reported a 2 percent rise in net profit in December quarter.

But United Spirits lost 7 percent after the company reported lower-than-expected earnings.

RBL Bank Ltd fell 4 percent after the bank reported a rise in its bad loans.

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

Meanwhile, Asian shares took a breather after the indexes climbed to record highs in the previous session following a deal to end a U.S. government shutdown.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, having jumped 1.2 percent on Tuesday to an all-time peak. Japan's Nikkei lost 0.8 percent as the yen strengthened, though that was from a 26-year top., Reuters data showed.

This article was first published on January 24, 2018