Indian shares muted as Kotak Bank, IT losses offset gains in other stocks

Indian shares little changed as losses in Kotak Mahindra Bank KTKM.NS, IT stocks .NIFTYIT offset by gains in others

Nifty .NSEI and Sensex .BSESN ease 0.2% each; broader mid-caps .NIFMDCP100 flat, small-caps .NIFSMCP100 down 0.2%

KTKM slumps ~6%; set for biggest daily pct drop in 15 months after posting Q1 profit drop

IT stocks down 0.6%, led by 1% drop in Tata Consultancy Services TCS.NS after announcing plans to cut 2% of its workforce

Two heaviest stocks, HDFC Bank HDBK.NS and ICICI Bank ICBK.NS, which posted upbeat Q1 earnings, up 0.5% and 1%, respectively; among top three boosts for benchmarks

Meanwhile, dimmed prospects of U.S.-India trade deal ahead of August 1 deadline weigh on market sentiments