INDIA STOCKS-Indian shares fall as US tariff concerns, earnings worries sour sentiment

Updates for morning trade

By Bharath Rajeswaran and Vivek Kumar M

Feb 11 (Reuters) - Indian shares fell on Tuesday, tracking other Asian peers, as concerns around U.S. trade policy and lacklustre domestic earnings continued to sap investor sentiment.

The Nifty 50 .NSEI was down 0.47% at 23,271 as of 10:33 a.m. IST, while the BSE Sensex .BSESN shed 0.44% to 76,975.9.

All 13 major sectors declined, while the broader smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 lost 2.5% and 2%, respectively.

Other Asian markets were also subdued, with the MSCI Asia ex-Japan .MIAPJ0000PUS losing 0.3% due to worries around President Donald Trump's tariff policies.

Trump on Monday raised tariffs on steel and aluminium imports to 25% "without exceptions or exemptions" and said he would announce plans to impose reciprocal levies on several countries in the next two days.

The ongoing decline in Indian equities is driven by uncertainty on U.S. tariffs, said UR Bhat, co-founder of investment firm Alphaniti Fintech, with some analysts adding that the bearish undertone is being fuelled by slowing earnings and sustained foreign outflows.

Both the Nifty 50 and Sensex lost about 1.5% in the last four sessions.

Foreign investors have offloaded Indian shares worth $9.94 billion so far this year.

On Tuesday, financials <.NIFTYFIN> slipped 1%, led by a 1% decline in HDFC Bank HDBK.NS.

Eicher Motors EICH.NS lost 6% after missing quarterly profit and margin estimates, hurt by high costs and lower sales of its high-margin motorcycles. The decline dragged the auto index .NIFTYAUTO 1.3% lower.

In contrast, most Adani Group companies gained, with flagship firm Adani Enterprises ADEL.NS rising 4%, after Trump signed an executive order directing the U.S. Justice Department to loosen enforcement of a law banning bribery of foreign officials.

Last year, U.S. authorities accused Adani Group executives of being part of a $265 million bribery scheme to secure Indian solar power supply contracts. The conglomerate has denied the allegations.

Adani also signed an agreement with U.S.-based Mayo Clinic to launch two affordable health campuses in Mumbai and Ahmedabad.

(Reporting by Bharath Rajeswaran and Vivek Kumar M in Bengaluru; Editing by Varun H K, Sumana Nandy and Sonia Cheema)

((VivekKumar.M@thomsonreuters.com;))