sensex
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India. (SOURCE:REUTERS) Reuters

India shares fell from record highs on Tuesday, tracking losses in other Asian equities following a drop in China's factory gauge.

Stocks in Asia were sluggish and bonds added to gains after a sharper-than-expected slowdown in China's October factory growth.

Wall Street pulled back from record-high territory on Monday, weighed down by a drop in drugmaker Merck.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent.

Investors are now focused on the impending appointment of the Federal Reserve chair, with speculation rife that Fed governor Jerome Powell is the favoured suitor.

At 0545 GMT, the S&P BSE Sensex fell 0.19 percent at 33,204 while the broader NSE Nifty lost 0.25 percent to 10,337.

State-owned lenders traded lower: Central Bank of India fell 3 percent; Corporation Bank, Union Bank of India and Syndicate Bank lost 2 percent each; Punjab National Bank declined 1.5 percent while Indian Bank was down 1.2 percent.

Infosys fell 2 percent after the stock turned ex-buyback date.

Among the gainers, Bharat Electronics advanced 9 percent after the company reported a 19.1 percent increase in its net profit for the September quarter.

Jaiprakash Power Venture jumped 5 percent on reports that Resurgent Power and Brookfield in final race to buy a strategic stake in the company.

Zen Technologies gained 9 percent after the company said it won order worth Rs 357 crore from the government of India.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.