Indian shares fell as much as 1 percent on Wednesday, posting their fourth straight session of losses, as markets await the outcome on the goods and services tax bill with investors booking profit in recent outperformers.
The broader NSE index .NSEI ended 0.91 percent lower at 8,544.85. The benchmark BSE index .BSESN ended 1.02 percent lower at 27,697.51, its lowest closing in over 3 weeks. The indexes posted their biggest percentage fall since June 24.
Automakers and logistics stocks fell as investors remained wary of the ongoing tax debate in parliament. These sectors are expected to benefit from a more unified tax system.
Maruti Suzuki India (MRTI.NS) fell 2.3 percent. The stock hit a record high on Tuesday on robust July sales. Transport Corp of India (TCIL.NS) lost 5.1 percent.
(Reporting by Samantha Kareen Nair in Bengaluru; Editing by Gopakumar Warrier)
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Published Date: Aug 03, 2016 22:21 PM | Updated Date: Aug 03, 2016 22:21 PM