Infosys, Tata Motors lead lows amid US tariff overhang

Infosys, Tata Motors lead lows amid US tariff overhang

Infosys Ltd and Tata Motors Ltd lost ground while a looming deadline for the imposition of U.S. tariffs on China played on investors' minds. Reuters file photo

Indian shares were marginally lower on Thursday with big names such as Infosys Ltd and Tata Motors Ltd losing ground while a looming deadline for the imposition of U.S. tariffs on China played on investors' minds.

Asian stocks fell and major currencies traded in tight ranges, with financial markets jittery before a U.S. deadline to impose tariffs on Chinese imports just a day away.

"Investors are more circumspect about everything. Trade war-related issues can possibly pose nasty surprises if they are not reined in properly," said Deven Choksey, founder, KR Choksey Investment Managers.

The broader NSE index was down 0.15 percent at 10,754.25 as of 0604 GMT, dragged down by Infosys which fell 4.2 percent, after gains of nearly 7 percent in June.

The benchmark BSE index was 0.14 percent lower at 35,594.09.

Tata Motors was among the top percentage losers on the NSE index, falling to its lowest in over five years after unit Jaguar Land Rover said on Wednesday that a so-called "hard Brexit" would cost it 1.2 bln pounds ($1.59 bln) a year.

Titan Company Ltd fell as much as 5.6 percent and was the top percentage loser after its bleak June-quarter update disappointed investors.

Among gainers, financials stocks continued to rise with Yes Bank Ltd rising the most on the NSE index. It gained 2.7 percent after it got final regulatory approval from the Indian markets regulator to begin its mutual fund business.

The Nifty IT index fell for the second consecutive session, down 1.2 percent. It had risen 2.4 percent in June.

Market heavyweight Reliance Industries Ltd edged 1 percent higher after updates on its expansion plans for telecoms unit Jio during the company's annual general meeting.

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