India's BSE index is down 1.1 percent, while the broader NSE index is 1 percent lower as investors book profits after a recent surge in shares.
Some analysts also express concerns as Arun Jaitley, India's new finance minister, will also oversee defense and corporate affairs although the arrangement of portfolios is meant to be temporary.
Recent outperformers fall: Oil and Natural Gas Corp falls 2.8 %
Auto stocks declined. Tata Motors (down 1.29%), Mahindra & Mahindra (M&M) (down 3.86%) and Ashok Leyland (down 0.78%) declined.
Shares of two-wheeler makers edged higher. TVS Motor Company (up 1.61%), Hero MotoCorp (up 0.61%) and Bajaj Auto (up 1%) gained.
Shares of two-wheeler makers edged higher. TVS Motor Company (up 1.61%), Hero MotoCorp (up 0.61%) and Bajaj Auto (up 1%) gained.
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