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Staff of Reuters Read for 2 minutes (Reuters) – BENGALURU (Reuters) – On Tuesday, Indian markets retreated a smidgeon, pulled down by losses in car companies after sector heavyweight Tata Motors warned that a deepening chip shortage will affect its Jaguar Land Rover company. On February 26, 2016, a broker reacts while trading at his computer station at a stock brokerage firm in Mumbai, India. REUTERS/File Photo/Shailesh Andrade After hitting an all-time high earlier in the day, the blue-chip NSE Nifty 50 index fell 0.1 percent to 15,818.25, while the benchmark S&P BSE Sensex fell 0.04 percent to 52,861.18. Tata Motors, the parent company of Jaguar Land Rover, saw its stock plummet as much as 10% when it announced that semiconductor supply limitations would worsen in the near future, affecting the unit’s performance. The Nifty Auto index fell 1.74 percent after rising 0.66 percent in the morning. Reliance Industries, owned by billionaire Mukesh Ambani, ended the day 1.2 percent lower, halting a two-day winning streak. Airline stocks ended the day higher after the country’s aviation ministry approved a capacity increase on domestic flights to 65 percent through the end of July, up from 50 percent previously. IndiGo’s parent company, InterGlobe Aviation, and low-cost airline SpiceJet both concluded the day with gains of 0.7 percent and 0.1 percent, respectively. Oil and Natural Gas Corporation and Oil India Ltd, both state-owned oil exploration companies, increased 3.4 percent and 3 percent, respectively, as oil prices continued to rise after OPEC+ members called off talks on supply levels. After the drugmaker announced it had begun production of the Sputnik V COVID-19 vaccine, Morepen Laboratories’ stock rose as much as 15.2 percent. Meanwhile, Indian bond yields rose as a rise in global crude oil prices fueled fears of greater import inflation, while a selection of papers for the central bank’s asset buyback this week disappointed investors. Shivani Singh contributed reporting from Bengaluru, and Aditya Soni edited the piece./nRead More

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