(Updates to close)

By Bharath Rajeswaran

Nov 7 (Reuters) - Indian shares slid over 1% on

Thursday, erasing all their gains from the previous day when

Donald Trump was elected U.S. president, with analysts blaming

profit-booking and concerns over foreign inflows, while weak

earnings also weighed.

The NSE Nifty 50 fell 1.16% to 24,199.35, while the

BSE Sensex shed 1.04% to 79,541.79, near their closing

levels on Tuesday. The indexes jumped 1.1% on Wednesday in their

best day in over six weeks after Trump's victory.

The drop is "more of a technical pullback, with some

investors trying to use the rally in the previous session to

book profits," said Sunny Agrawal, an analyst at SBICaps

Securities.

"The other, more deeper concern is over foreign flows. A

rise in the U.S. Treasury yields in anticipation of a tariff

hike on imports by Trump and the consequent rise in U.S. dollar

index and inflation could hurt foreign inflows to India."

Foreign investors pulled out a record $11.2 billion from

Indian equities last month and have removed $1.26 billion, on a

net basis, this month through Wednesday.

The outflows and disappointing earnings have dragged on

markets for weeks, with Hindalco and Trent continuing the trend.

Aluminium maker Hindalco slid 8.5% after its U.S.

unit, Novelis, reported a lower profit. It dragged metals stocks

down 2.73% and was the biggest loser on the Nifty.

The second-biggest was clothing retailer Trent,

which slid 6.5% after posting its slowest revenue growth in 14

quarters.

On the other hand, Apollo Hospitals jumped 6.3%,

the most on the Nifty, after it beat second-quarter profit

estimates on strong healthcare services demand.

BSE, Voltas, Oberoi Realty and

Kalyan Jewellers rose 0.4%-4% following their planned

inclusion in a key MSCI index.

On the radar is the Federal Reserve's rate decision after

the bell. The Fed is expected to cut rates by 25 basis points

but its policy guidance is more keenly awaited.

($1 = 84.2760 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by

Sherry Jacob-Phillips, Savio D'Souza and Mrigank Dhaniwala)