Indian shares inch lower as IT declines on subdued earnings outlook

** Indian shares fall marginally, dragged by IT on concerns over weak demand weighing on near-term earnings

** Both Nifty 50 .NSEI and Sensex .BSESN down 0.1%, reversing early gains of about 0.3% each

** Nine of the 16 major sectors decline; small-caps .NIFSMCP100, mid-caps .NIFMDCP100 flat

** IT index .NIFTYIT down 1.1%, with nine of the 10 constituents falling

** Goldman Sachs and CLSA see weak demand weighing on near-term earnings; flag weaker macro fundamentals impacted by geopolitics, higher rates and inflation

** Bucking the trend, HDFC Bank HDBK.NS gains 0.8%, extending gains to 2% in two sessions on CEO search updates, rate hike expectations

** Meesho MEES.NS jumps 8.5% after UBS hikes price target to 260 rupees from 210 rupees, citing stronger medium-term growth prospects and improving margin trajectory

** Coal India COAL.NS gains 3.1% after Morgan Stanley upgrades stock to "overweight" from "equal-weight"