India's main NSE index posted its fourth session of losses in five on Wednesday as investors were unnerved by border tensions with Pakistan and on the expiry of derivatives contracts this week. The broader NSE index closed 0.27 percent lower at 9,360.55, while the benchmark BSE index ended down 0.21 percent at 30,301.64. However, Tata Motors Ltd rose 4.2 percent after posting better-than-expected earnings late on Tuesday.
However, gains were capped as investor sentiment remained tepid after India on Tuesday said it attacked Pakistani army posts in Kashmir, while a slip in Asian shares after a Moody's downgrade on its sovereign credit rating on China also hurt risk appetite. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent. "Sentiment is slightly impacted due to the fall in Asian shares," said Dipen Shah, senior vice president and head of private client group research at Kotak Securities.
Financial stocks including Housing Development Finance Corp Ltd and Yes Bank Ltd were among the top percentage contributors on the NSE index. Housing Development Finance Corp Ltd rose as much two percent while Yes Bank gained as much as 2.9 percent. Shares of Voltas Ltd jumped as much as 10 percent to a record high.
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