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MARKET EYE-Indian shares flat; IT sector recovers

* The BSE index

gains 0.03 percent, while the 50-share NSE index is down 0.08 percent, in a quiet trading session ahead of a public holiday on Tuesday. * Software services exporters leading gains after recent falls. * Infosys Ltd

gains 1.5 percent after falling 2.5 percent over the previous four sessions, while Tata Consultancy Services

rises 0.6 percent. * Trading volumes quiet ahead of a public holiday on Tuesday. * Little reaction seen from data on Friday showing India's current account deficit shrank in the April-June period from an all time high in the previous quarter, as the fall had been widely expected.

* Traders also see little impact from a government panel recommendations on Friday urging India to slash subsidies, saying the actions would be hard to implement in the short-term.

* A separate committee is expected to submit its recommendations on a controversial set of taxes for foreign investors, including those concerning the General Anti-Avoidance Rule, to the finance ministry later in the day.

(manoj.dharra@thomsonreuters.com)