Indian shares weakened slightly in volatile trade on Tuesday, as gains in autos and banks were offset by IT, with decline in Asian shares aiding fall.
The Nifty 50 index had risen 4.6% this month until Aug. 18, after which investors began to book profits. The index shed 2.6% in the last two sessions.
"The correction was very sharp in the last few days and this isn't a trend reversal... Market is moving down," said AK Prabhakar, head of research at IDBI Capital, adding that there was pressure on both ends with the derivative expiry on Thursday. Sentiment was bearish, as Asian shares fell for a sixth straight session after a renewed spike in European energy prices stoked fears of recession.IT stocks weighed down stocks in India, with the Nifty IT index
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