BENGALURU, May 10 Reuters Indian shares were subdued on Tuesday, with losses in metal and energy stocks countering gains in automobile and consumer goods, while investors remained on edge across Asian markets on rate hike and economic slowdown worries.

The NSE Nifty 50 index was up 0.05 at 16,309.75 as of 0459 GMT, while the SP BSE Sensex rose 0.09 to 54,521.43. The benchmark indexes fell over 1 in the previous session.

Nifty39;s metal and energy subindexes were down more than 1 each, while auto and fastmoving consumer goods rose between 0.9 and 0.7.

The Indian rupee was near record lows at 77.245 against the U.S. dollar.

Global sentiment is negative because of geopolitical uncertainty, rise in rates, so it is like a storm which has come together but investors will have to weather it as market will remain extremely volatile for the next few days, said Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors.

Nifty39;s volatility index, which indicates traders39; expectations about market instability over the next 30 days, rose as much as 2.2 to 22.515.

A Reuters poll found India39;s retail inflation likely surged to an 18month high in April, largely driven by rising fuel and food prices and staying well above the Reserve Bank of India39;s upper tolerance limit for a fourth consecutive month. 

The consumer price inflation data is due to be released at 1200 GMT on Thursday.

India39;s benchmark indexes last week registered their worst week…