Indian shares closed up 0.11 percent on Thursday, shedding early strong gains as investors booked profits on fears of a further weakening of global markets, dealers said. They said buying interest waned as investors were spooked by falling world markets rattled by US loan mortgage defaults on Wednesday.
The 30-share Mumbai stock exchange Sensex index closed up 14.23 points to 12,543.85, slipping 1.96 percent intraday from the day's peak of 12,789.81. The Sensex on Wednesday had tumbled 453.36 points or 3.49 percent to 12,529.62.
"The markets opened strong but buying interest failed to sustain. We see clear weakness in days ahead, tracking global trends," said Hiten Mehta, fund manager with Fortune Financial Services.
Gainers led losers 1,474 to 1.090 on volume of 38.2 billion rupees (864 million dollars). India's largest bank State Bank of India fell 25.6 rupees or 2.7 percent to 921.9. The nation's largest car maker Maruti Udyog rose 6.1 rupees or 0.77 percent to 797.3.
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