Indian shares end lower, rupees hits fresh record low

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05/07/2022 12:00

(Adds analyst quote, updates shares)
    BENGALURU, July 5 (Reuters) - Indian shares closed lower on
Tuesday, giving up more than 1% gains made during the day, as
investor sentiment soured in global markets, while rupee hit a
fresh record low on concerns of a bigger current account
deficit.
    The NSE Nifty 50 index  .NSEI  ended down 0.15% at
15,810.85, while the S&P BSE Sensex  .BSESN  dropped 0.2% to
53,134.35. Both the indexes had gained over 1% in morning trade.
    U.S. stock futures and European shares fell, while the euro
sank to a two-decade low versus the dollar.  MKTS/GLOB 
    The Nifty IT index  .NIFTYIT  fell 0.7%.
    "The U.S. markets were closed on Monday and are starting in
negative territory. It is getting cascaded to European markets
as well, which might have driven investors in domestic markets
to take profits," said Ajit Mishra, vice president research,
Religare Broking Ltd.
    "The rupee hitting new lows has become constant and there is
caution with earnings season setting. The moment investors see
markets turning, it triggers a notion that they should also book
profits before it evaporates," Mishra said. 
    The Nifty's volatility index  .NIFVIX , which indicates
traders' expectations about market instability over the next 30
days, was down 0.9% at 20.7875.
    Among individual gainers, PTC India Financial Services
 PTCN.NS  jumped nearly 20% after the non-banking financial
company said an independent audit issued a "satisfactory report"
after deeming that the company maintained sufficient
transparency. 
    PTC India Financial has been under the Indian market
regulator's radar for corporate governance issues.  urn:newsml:reuters.com:*:nL4N2U414E
    Marksans Pharma  MARK.NS  soared 17.8% after a proposal for
a share buyback. 
    ITC Ltd  ITC.NS , which rose over 3% in the previous
session, fell 1.7% and was the top loser in Nifty 50 index.

 (Reporting by Nallur Sethuraman in Bengaluru; Editing by Maju
Samuel)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))