BUZZ-Indian shares flat as auto, metal losses offset IT gains

Reuters
07-16
BUZZ-Indian shares flat as auto, metal losses offset IT gains

** Indian shares flat as auto, metal losses offset gains in information technology companies

** Benchmark Nifty 50 .NSEI and Sensex .BSESN, broader mid-caps .NIFMDCP100 and small-caps .NIFSMCP100 little changed

** Ten of the 13 major sectors advance, but most see marginal gains

** Auto stocks .NIFTYAUTO down 0.5%, Mahindra & Mahindra .MAHM.NS and Tata Motors TAMO.NS biggest drags, after Tesla's entry into local market

** Metal stocks .NIFTYMET down 0.5% on a stronger dollar, which makes commodities costlier for holders of other currencies MET/L

** Meanwhile, IT stocks .NIFTYIT up 0.4%, biggest boost for benchmarks; Tech Mahindra TEML.NS rises 1% ahead of its earnings on the day

** Among other stocks, HDB Financial Services HDBF.NS drops 3% as higher provisions weighs on its Q1 earnings

** Network18 NEFI.NS soars 14% on reporting profit after 12 quarters of losses

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))

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