Mumbai: Indian shares erased losses of as much as 1.3% and briefly turned positive in midday trade on Tuesday, led by outsourcer Wipro and diversified Grasim Industries.
Top vehicle maker Tata Motors gained 1.8% to Rs465.80 after Credit Suisse upgraded the stock to “outperform” from “neutral.”
At 12:23pm, the 30-share BSE index was down 0.1% at 15,607.56 points, with 15 stocks declining, after rising to as much as 15,650.76. The 50-share NSE index was down 0.1% at 4,638.60.
Markets had extended losses to 1% late morning, as investors across Asia turned cautious after a recent rally and awaited more clues on whether the economic recovery is picking up steam.
At 11:11am, the 30-share BSE index was down 0.9% at 15,486.06 points, with 23 stocks declining, after falling to as much as 15,462.72. The 50-share NSE index was down 0.9% at 4,603.
The Bombay Stock Exchange benchmark Sensex fell by 154 points in opening trade as foreign funds and retail investors preferred to book profits amid weak Asian markets.