By
Nifty, Sensex fall sharply; Tata Motors hits decade low
Photo Credit: Reuters

Indian shares closed sharply lower on Wednesday, led by declines in metals and banking stocks, as worries over a global recession and an escalating US-China trade war weighed on investor sentiment.

The broader NSE Nifty closed down 0.89% at 10,919.45, while the benchmark BSE Sensex ended 0.72% lower at 37,060.37.

The Nifty metals index ended down 2.89% after hitting its lowest since December 2016, while the Nifty PSU banks index, which tracks state-owned banks, fell 2.95% with all 12 constituents in the red.

Shares in leading automaker Tata Motors Ltd fell 9.6% after hitting a near 10-year low, as traders reportedly fretted over the company's businesses in China following dismal results from Chinese auto group Geely Automobile.

Leave Your Comment(s)