BENGALURU (Reuters) – Indian shares were mostly muted on Wednesday as a weakness in banking shares was offset by gains in pharmaceuticals and heavyweight Reliance Industries after an investment deal by General Atlantic in the conglomerate’s retail arm.
By 0448 GMT, The broader NSE Nifty 50 index was down 0.02% at 11,225 and the S&P BSE Sensex was mostly unchanged at 37,941.30.
The Nifty bank index fell 1% and the public sector bank index slid 1.2%.
“The banking sector will be under pressure till some clarity emerges from the Supreme Court (on the loan moratorium case),” said Saurabh Jain, assistant vice president at SMC Global Securities Ltd.
“Wherever there is optimism and managements are confident (in sectors like IT and pharma), investors are not worried about putting more money and the