Indian shares ended lower on Tuesday, as software services exporters retreated after Royal Bank of Scotland cancelled a contract with Infosys and as world stocks moved away from one-year peaks amid global concerns. The BSE index fell 0.31 percent to 28,064.61, after declining as much as 0.75 percent earlier in the session.
The broader NSE index dropped 0.34 percent to 8,642.55, snapping two sessions of gains. Infosys closed 1 percent lower after falling as much as 3.25 percent to its lowest since December 9, 2015. But broader losses were capped as State Bank of India rose as much as 1.89 percent after the country's biggest lender by assets reported a smaller-than-expected rise in bad loans on Friday.
Analysts said investors also took in their stride data released on Friday showing a faster-than-expected acceleration in consumer inflation to 6.07 percent last month, given expectations that above-average monsoon rains would cool down food prices. Markets were closed on Monday for a public holiday. "Market is basically wanting to play on individual stocks viz-a-viz the indices," said Deven Choksey, managing director at KR Choksey Securities.
"On the index front, it's more of a flat market." Other IT services providers also fell, with Tata Consultancy Services down 1.26 percent. Among gainers, shares of Power Grid Corp rose as much as 2.8 percent to a record high on expectations of higher June-quarter profit.
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