Indian shares pause after record rally; TCS slides

Mood, back home, was a little somber after mixed set of earnings.

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

Indian shares closed little changed on Friday after a record rally in the last few sessions, as gains in lenders were tempered by a decline in software exporters after Tata Consultancy Services' (TCS) profit miss.

The S&P BSE Sensex fell 0.05 percent to 32,020 while the broader NSE Nifty also lost 0.05 percent to 9,886.

Asian shares rallied for a fifth session, with MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 percent to its highest level in two years.

Sentiment, back home, was a little somber after mixed set of earnings.

TCS on Thursday announced a bigger-than-expected 6 percent fall in net income while second biggest software exporter Infosys raised its annual revenue outlook after eking out a 1 percent rise in quarterly net income.

TCS was the top loser on Sensex, down about 2 percent while Infosys dropped 0.4 percent.

Among the other losers: Coal India, ITC, Wipro and Tata Motors fell between 1 percent to 2 percent.

Gainers included GVK Power & Infrastructure, which rose 3.7 percent after a completion of a deal to sell its remaining stake in Bangalore International Airport.

Market breadth was in the favour of losers, with about 2 stocks declining to every 1 stock that advanced.