* NSE index down 0.04 pct, BSE 0.06 pct higher
* Markets in consolidation phase - analyst
* TCS, Yes Bank, HDFC Bank results due this week
By Darshana Sankararaman
April 17 Indian shares were nearly unchanged on
Monday as investors waited for positive corporate results after
a disappointing start to the earnings season last week when
Infosys Ltd issued a lower-than-expected revenue
Shares of Infosys, the country's second-biggest software
services exporter, were down 0.7 percent after falling 3.87
percent on Thursday. Markets were closed on Friday for a public
The weak guidance raised concerns about earnings, with Tata
Consultancy Services Ltd, Yes Bank Ltd, and
HDFC Bank Ltd due to report this week.
"With the earnings season having just begun, markets need to
see some kind of confirmation that growth will come," said
Saurabh Jain, assistant vice-president of research at SMC Global
"Broadly, markets are consolidating and are finding it
difficult to sustain fresh highs, and profit-booking is coming
The NSE index was down 0.04 percent at 9,147.35 by
0550 GMT. The broader index has fallen 1.2 percent since hitting
a record high on April 5.
The benchmark BSE index was 0.06 percent higher at
The NSE IT index was down 0.6 percent, dropping
for the third consecutive day, with TCS losing up to 1.32
Yes Bank and HDFC Bank were down more than 0.5 percent each.
Among gainers, Dr. Reddy's Laboratories Ltd rose
as much as 3.1 percent and was the top gainer on the NSE index
after the U.S. FDA completed an audit of the company's
Srikakulam plant with no observations, according to an exchange
filing on Friday. (bit.ly/2oNNcAQ).
(Reporting By Darshana Sankararaman in Bengaluru; Editing by