BENGALURU, Aug 17 (Reuters) - Indian shares extended their record-high closing run to a fourth day on Tuesday as gains in IT and consumer stocks and falling domestic COVID-19 cases helped offset losses in metal and banking stocks and investor concerns around global economic growth.
Aiding sentiment, India recorded a sharp decline in daily new COVID-19 infections that fell to 25,166, the lowest since March 16, while it administered more than 8.8 million doses of vaccines in the past 24 hours, close to its all-time record set in June, government data showed. read more
The Nifty IT index (.NIFTYIT) ended up 2.57%, led by Tech Mahindra (TEML.NS), Infosys (INFY.NS), TCS (TCS.NS) and MindTree (MINT.NS), as the sector continued to be buoyed by positive earnings announcements and its lower exposure to the effects of COVID-19.
The Nifty PSU Bank index (.NIFTYPSU) slipped as much as 2.5% before closing 1.79% lower, dragged by losses in Indian Bank, Maharashtra Bank and Canara Bank among others.
Global shares stumbled on Tuesday, rattled by concerns over China's regulations for its internet sector, a worldwide spike in COVID-19 infections, and ahead of the release of U.S. retail sales data which is expected to offer further signs of slowing economic momentum.
In early European trade, the pan-European STOXX 600 (.STOXX) shed 0.5%, its lowest level in more than a week.
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