* NSE index up 0.18 pct, BSE index 0.11 pct higher
* Markets taking a breather - analyst
* Indian Oil Corp hits record high
By Tanvi Mehta
April 10 Indian shares were little changed on
Monday as investors waited for cues from the March-quarter
corporate results season before taking any large positions.
Indian shares have gained in double-digits so far this year,
sending the broader NSE index to a record high of
9,273.90 last week, on the back of strong foreign investments
and hopes for additional economic reforms.
Analysts said the January-March earnings would likely be key
to determine whether those gains can be sustained.
Infosys Ltd, the country's second largest software
services company, will start the earnings season on Thursday.
"Markets are taking a breather, possibly, we will take some
directional call from then onwards," said Gaurang Shah, Vice
President, Geojit Financial Services.
"It's only prudent that we consolidate for some time, given
the run-up that we've seen."
The broader NSE index was up 0.18 percent at
9,215.15 as of 0558 GMT, helped by gains in energy stocks.
The benchmark BSE index was 0.11 percent higher at
Indian Oil Corp Ltd rose as much as 3.3 percent to
a record high. It gained 3 percent on Friday after a report that
state-run oil marketing companies were mulling a plan that would
allow daily changes in the price of automotive fuels.
Bhushan Steel Ltd surged as much as 8.3 percent to
its highest since Aug 10, 2015 after Business Standard reported
that the company last month submitted its final proposal for
debt restructuring under the central bank's S4A scheme.
However, Reliance Communications Ltd fell as much
as 4.1 percent after the Economic Times newspaper reported on
Saturday that the company laid off more than 600 roles, citing
people familiar with the matter.
(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu