Nifty, Sensex pare early gains; automakers weigh

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

(Reuters) - Indian shares came off their session peak to close a tick higher on Monday, as strength in pharmaceutical stocks was largely offset by declines across the banking and auto sectors.

The broader NSE Nifty ended 0.07% higher at 11,053.90, while the benchmark BSE Sensex gained 0.14% to finish at 37,042.49.

The Nifty PSU bank index, tracking state-owned banks, shed 0.83%, with State Bank of India falling about 1.5%.

A 1.6% slide in Eicher Motors Ltd contributed to a 0.56% decline in the Nifty auto index.

The auto index has shed 36% over the past year, including a 22% plunge since mid-April, as the automotive industry faces a bruising slowdown that has forced companies to curtail production and slash jobs.

The Nifty pharma index ended 0.74% higher, led by a 2.7% gain in Sun Pharmaceutical Industries Ltd.


(Reporting by Sachin Ravikumar, Editing by Sherry Jacob-Phillips)