Indian shares flat ahead of US inflation data
** Indian shares trade flat in a choppy session ahead of U.S. inflation data
** Barring defensives like consumer .NIFTYFMCG and pharma .NIPHARM, most other sectors log losses
** Analysts expect domestic equities to take cues from U.S. inflation data, due later today, and likely Federal Reserve rate cut on Sept. 18
** Auto maker Tata Motors TAMO.NS drops 5.4% after UBS forecasts a 21% decline in shares in next 12 months on weaker financials
** Upstream oil company Oil & Natural Gas Corp ONGC.NS slips 3% after Nuvama says its earnings are set for a free fall with crude prices dropping below $70 per barrel; ONGC drags oil & gas index .NIFOILGAS 1.2% lower
** Sharp drop in crude oil prices on concerns over global demand outlook also adds to caution prevailing in markets, according to analysts O/R
Reporting by Bharath Rajeswaran in Bengaluru
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