Indian shares were muted on Thursday as some technology and pharma stocks offset gains in Bharti Airtel and Kotak Mahindra Bank, with sentiment turning cautious on slowing growth and potential stimulus tapering by central banks.

The blue-chip NSE Nifty 50 index was 0.03 per cent lower at 17,348.70 by 0346 GMT and the benchmark S&P BSE Sensex rose 0.01 per cent to 58,254.90.

Wipro inched lower for the third straight session, falling 0.8 per cent, while Kotak Mahindra Bank gained for a second straight session, rising 1.2 per cent.

UCO Bank shares rise

Shares of UCO Bank surged as much as 16.4 per cent. Thecountry’s central bank said on Wednesday it had taken the bank off its prompt corrective action (PCA) list after it found the State-run lender was not in breach of its rules on regulatory capital, bad loans, and leverage ratio.

In Asian markets, caution kicked on economic growth worries and central banks’ policies. Several Federal Reserve policy-makers on Wednesday signalled the Fed remains on track to reduce its asset purchases this year.

comment COMMENT NOW