Indian shares pause after 3-day rally; ITC falls

Sentiment across Asia was subdued after North Korea test-fired an intermediate-range ballistic missile toward Japan.

india trader
Traders working at a local brokerage in Mumbai, India. Reuters

Indian shares halted after gaining for three straight sessions on Tuesday, as investors booked profits in recent outperformers such as ITC and Godfrey Phillips.

At 0645 GMT, the benchmark S&P BSE Sensex fell 0.08 percent at 31,197 while the broader Nifty dropped 0.07 percent at 9,608.

Sentiment across Asia was subdued after North Korea test-fired an intermediate-range ballistic missile toward Japan, spurring safe haven assets such as the yen and gold.

The MSCI Asia Pacific Index was down 0.3 percent after the gauge finished the second quarter with a gain of 5.2 percent.

Back home, biscuit maker ITC fell 1 while cigarette maker Godfrey Phillips dropped 0.3 percent after recent gains.

Just Dial Ltd shares fell 4.8 percent after the company said its chief financial officer Ramkumar Krishnamachari, resigned.

Aviation stocks also dropped. Jet Airways India declined 1.2 percent and SpiceJet fell 0.9 percent.

Prominent gainers included Reliance Industries, Adani Ports, Tata Motors, ICICI Bank and ONGC, rising by up to 1.61 percent.

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

india trader
Traders working at a local brokerage in Mumbai, India. Reuters

Indian shares halted after gaining for three straight sessions on Tuesday, as investors booked profits in recent outperformers such as ITC and Godfrey Phillips.

At 0645 GMT, the benchmark S&P BSE Sensex fell 0.08 percent at 31,197 while the broader Nifty dropped 0.07 percent at 9,608.

Sentiment across Asia was subdued after North Korea test-fired an intermediate-range ballistic missile toward Japan, spurring safe haven assets such as the yen and gold.

The MSCI Asia Pacific Index was down 0.3 percent after the gauge finished the second quarter with a gain of 5.2 percent.

Back home, biscuit maker ITC fell 1 while cigarette maker Godfrey Phillips dropped 0.3 percent after recent gains.

Just Dial Ltd shares fell 4.8 percent after the company said its chief financial officer Ramkumar Krishnamachari, resigned.

Aviation stocks also dropped. Jet Airways India declined 1.2 percent and SpiceJet fell 0.9 percent.

Prominent gainers included Reliance Industries, Adani Ports, Tata Motors, ICICI Bank and ONGC, rising by up to 1.61 percent.

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

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