* NSE index down 0.17 pct, BSE down 0.06 pct
* Nifty Auto index down
* HPCL shares fall on lower GRM
By Tanvi Mehta
Feb 14 Indian shares were largely flat on
Tuesday amid weak Asian markets, and gains in energy stocks were
offset by losses in financial and auto stocks.
The broader NSE index was down 0.17 percent at
8,790.40 as of 0535 GMT, dragged down by auto and IT stocks.
The benchmark BSE index was 0.06 percent lower at
Reliance Industries and GAIL were among
the top gainers while Hero MotoCorp was among the top
losers. Nifty Auto index, which has risen about 9
pct this year, was trading 0.54 percent lower.
Foreign institutional inflows have been subdued after the
government decided to ban higher denomination notes on Nov. 8.
"There isn't much action driving the market at the moment
... It will take another quarter to recover (from demonetisation
effect)," said Kaushik Mukherjee, Partner, BMR Legal.
Foreign investors have net purchased shares worth net
$326.06 million so far this month and $319.67 million this
year.. They had net bought stocks worth $2.90
billion in 2016, down from a net $3.27 billion invested in 2015.
The Nifty PSU Bank index fell 0.55 percent. It
lost about 3 percent in the previous session.
State-run Hindustan Petroleum Corp's shares fell
as much as 3.5 percent in their biggest intraday percent drop
since Dec. 15, 2016 after Dec-quarter average gross refining
margin fell to $5.57 per barrel.
(Reporting by Tanvi Mehta in Bengaluru; Editing by Vyas Mohan)