* NSE index down 0.33 pct, BSE index 0.26 pct lower
* Volatile trade ahead of expiry of futures & options contracts
March 27 (Reuters) - Indian shares shed early gains to settle lower in volatile trade on Wednesday as investors adopted a cautious stance ahead of the expiry of futures and options (F&O) contracts.
“This is an artificial volatility caused ahead of the roll- over of contracts. We will get through this problem once the contract is over,” said Deven Choksey, founder, KR Choksey Investment Managers.
The benchmark BSE index closed 0.26 percent lower at 38,132.88.
The broader NSE index ended 0.33 percent weaker at 11,445.05.
Financials gave up most of gains to settle 0.4 percent higher.
Reliance Industries Ltd and Housing Development Finance Corporation drove losses. (Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips)