Mumbai : Most Indian stocks retreated and software exporters and metal producers fell as concern mounted that economic growth in the US and China is slowing and after domestic factory output rose the least in 13 months.
Infosys Technologies led a retreat by software exporters, which get more than half of their sales in the US Sterlite Industries (India), a copper producer, led a drop by peers as raw material prices slumped.
State Bank of India, the nation's largest, soared to a record after posting its fastest profit growth in four quarters.
"Whether it's US or China growth slowing, either of these can puncture the world market," said Ambareesh Baliga, vice president of equities at Karvy Stock Broking in Mumbai. "If that happens, there's no way India can move against the world. At the end of the day, it's the foreign flows that support markets here."
The Bombay Stock Exchange's Sensitive Index, or Sensex, was little changed at 18,073.90. Three shares fell for each two that rose on the gauge.
The S&P CNX Nifty Index on the National Stock Exchange fell less than 0.1 per cent to 5,416.45. The BSE 200 Index gained 0.2 per cent to 2,308.77.
Infosys, the second-largest software services provider, declined 1.4 per cent to 2,772.7 rupees, while larger rival Tata Consultancy Services dropped 0.6 percent to 853.45 rupees. Wipro, the third-biggest software services provider, lost 1.7 per cent to 411.65 rupees.
