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Markets

Consumer companies and Tata Motors lead Indian shares lower

Some local lenders advance; Goldman Sachs says recent selloff in financials overdone

MUMBAI (NewsRise) -- Indian shares fell on Wednesday, weighed down by losses for Tata Motors amid worries over global car demand and weakness in consumer heavyweights ITC and Hindustan Unilever.

Concerns that China's potentially higher weightage in MSCI's global equity benchmarks will result in lowered weightings for other emerging markets including India also weighed on local sentiment. Global index provider MSCI said it will consider raising the weightage of China's large A-share stocks to 20% from 5%. The inclusion may reduce India's weightage to 8.8% by August 2019 from 9.3% currently.

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