Indian shares decline ahead of inflation data

BENGALURU: Indian shares swung between gains and losses before settling lower on Wednesday, as caution prevailed ahead of key corporate earnings as well as domestic and US inflation data, due later in the day.

The Nifty 50 index closed 0.28% lower at 19,384.30, while the S&P BSE Sensex fell 0.34% to 65,393.90.

Six of the 13 major sectoral indexes logged gains, with public sector banks rising 0.83%.

The high weightage IT fell 0.71% and was the top sectoral loser, ahead of first-quarter results from Tata Consultancy Services and HCLTech, due after market hours.

Several brokerages have warned of a muted quarter for the IT sector as clients in the United States and Europe - two of the sector’s largest markets - cut spending.