BENGALURU, Oct 4 Reuters Indian shares fell on Wednesday after mixed cues from September sales dragged auto stocks down, while information technology IT stocks fell on worries of a prolonged high interest rate regime in the U.S.

The NSE Nifty 50 index was down 0.69 at 19,393.55, as of 0955 a.m. IST, and the SP BSE Sensex lost 0.71 to 65,056.20.

Auto stocks shed over 1, extending their slide for a second session in a row after sales of entrylevel vehicles, as well as tractors, showed weakness.

Maruti Suzuki lost 2 after the automaker got income tax penalty notice for fiscal 2020, worth 21.60 billion rupees.

Small and midcaps stocks lost 0.5 and 1, respectively.

Investors should hold their horses and be extremely stockspecific amid global macro uncertainty said Satish Ramanathan, chief investment officer equity at JM Financial Mutual Fund, adding that it is time for investors to trim allocations in small and midcaps.

It is safer to shift to largecaps, at least for the time being.

Asian equities fell to a 11month low after data showed an unexpected rise in job openings in the U.S. in August, heightening the possibility of a prolonged high interest regime.

IT firms, which earn a significant share of their revenue from the U.S., lost 0.8 on rate concerns.

Among individual stocks, Avenue Supermarts gained over 2 after the retailer said its standalone revenue for September quarter rose 18.5 to 123.08 billion rupees.

Nestle jumped 4 after the company said it will…