Indian shares tick higher; rupee falls

Published: September 12, 2018 15:07:25 | Updated: September 14, 2018 15:45:55

Indian shares ticked higher on Wednesday, while the rupee fell to a fresh low, stoking fears of an interest rate hike by the central bank at its next meeting in October.

The rupee continued its decline, hitting a new low of 72.92 per dollar, with two traders spotting mild intervention by the central bank.

Broader Asian shares slipped to 14-month lows as investor confidence was hurt by the latest round of threats in an intensifying US-China trade conflict.

The broader NSE index was up 0.05 per cent at 11,292.60 as of 0648 GMT, while the benchmark BSE index was 0.14 per cent higher at 37,464.19.

Consumer staples led the gains. ITC Ltd rose 1.6 per cent, while Hindustan Unilever Ltd was the top percentage gainer with a gain of 2.0 per cent.

Tata Motors Ltd fell 3.2 per cent after the chief executive of its Jaguar Land Rover unit said on Tuesday a wrong Brexit could cost tens of thousands of car jobs and would risk production for the company.