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 09:55 a.m. IST, and the S&P 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 entry-level 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 mid-caps stocks lost 0.5% and 1%, respectively.

"Investors should hold their horses and be extremely stock-specific 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 mid-caps".

"It is safer to shift to large-caps, at least for the time being."

Asian equities fell to a 11-month 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 consider an interim dividend and stock split at its board meeting later this month.

Bajaj Finserv lost 2% after the company's unit got a show cause cum demand notice from Directorate General Of GST Intelligence, Pune, alleging tax demand of 10.1 billion rupees.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K , Dhanya Ann Thoppil and Nivedita Bhattacharjee)