Indian shares fell on Wednesday, snapping two straight sessions of gains, on concerns the government may amend tax treaties with countries including Singapore after it agreed to tax capital gains on foreign investments from Mauritius.

 

The broader NSE Nifty closed 0.49 percent lower at 7,848.85, after falling as much as 1.36 percent earlier in the session. The index rose 2 percent in the previous two sessions.

 

The benchmark BSE Sensex closed down 0.68 percent at 25,597.02. It fell as much as 1.4 percent earlier in the session.

 

In the 50-share index, Zee Entertainment, Axis Bank, Hindalco, Asian Paints and Bosch gained between 1.50 per cent and 7.30 per cent. On the other hand, Bharti Airtel, Tata Motors DVR, State Bank of India, Tata Motors and Tata Power slid between 2.13 per cent and 2.63 per cent.