Commodities

Indian shares retreat from record highs, financials drag

Credit: REUTERS/SHAILESH ANDRADE

Indian shares pulled back from record highs to close 1% lower on Tuesday, as investors booked profits following a three-session rally.

NSE index down 1.01%, BSE index 0.97% lower

Tata Motors closes 7% lower

May 21 (Reuters) - Indian shares pulled back from record highs to close 1% lower on Tuesday, as investors booked profits following a three-session rally.

The benchmark BSE index .BSESN closed down 0.97% at 38,969.8, while the broader NSE index .NSEI ended 1.01% lower at 11,709.1.

Both the indexes had gained over 6% in the three sessions to Monday.

Financial and auto stocks were the top losers on both the indexes.

Tata Motors Ltd TAMO.NS closed down 7%, while State Bank of India SBI.NS settled 2% lower.

Jet Airways Ltd JET.NS ended 15% higher after Hinduja Group said it was evaluating a possible bid for the cash-strapped airline.

For midday report see

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

((arnab.paul@thomsonreuters.com; +91 8067493881; Reuters Messaging: arnab.paul.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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