Indian shares slip

Indian share prices closed down 0.31 percent on Tuesday, snapping three days of gains, as heavy rains in the financial capital Mumbai kept many traders away from their desks, dealers said. They said trading volumes were their lowest this year at 20.56 billion rupees (447 million dollars).
The closure of the US market for the Independence Day holiday Tuesday also kept interest low. Mumbai's benchmark 30-share Sensex index was rangebound intraday and closed down 33.04 points at 10,662.22. Large and mid-cap stocks in the steel, metals and software sectors traded lower. "There appears no clear trend. Volumes were extremely thin but probably the overseas funds interest may pick up when the US markets re-open," said Soumeel Chakrava-rthy, dealer at equity research firm Ambit Capital.