Indian shares fell on Tuesday, dragged down by automaker Tata Motors Ltd, as investors refrained from making big bets ahead of corporate results and weakening global cues.
Indian companies are slated to start reporting corporate results later this week, with top software services exporter Tata Consultancy Services Ltd reporting results for the quarter ended September on October 11.
Trading sentiment across the globe remained subdued, with Asian shares at a 17-month low as China allowed its currency to slip past a psychological bulwark amid sharp losses in domestic share markets.
There is value across sectors, but markets are awaiting some triggers with corporate earnings and state elections in India and mid-term polls in the United States, said Neeraj Dewan, director at Quantum Securities.
The broader NSE index was down 0.29 percent at 10,318.20 as of 0550 GMT, while the benchmark BSE index was 0.17 percent lower at 34,414.24.
Tata Motors Ltd was the top drag on the NSE index, with shares falling as much as 14 percent to their lowest level since January 2, 2012, after unit Jaguar Land Rover (JLR) reported a fall in sales for September.
JLR said it will close its Solihull plant for two weeks later this month as sales fell in China due to import duties and a trade war with the United States.