By
Sensex drops to near two-month low on US-China trade war fears
Photo Credit: Reuters

Indian shares dropped more than 1% on Wednesday, ending lower for a sixth straight session, as investors took a cautious stance on worries the US-China trade deal could unravel.

Chinese Vice Premier Liu He is due to visit Washington on Thursday and Friday for trade talks in a last-ditch bid to avert a sharp increase in tariffs on Chinese goods ordered by US President Donald Trump.

The broader Nifty closed 1.2% weaker at 11,359.45, marking its lowest close in more than six weeks.

Meanwhile, the benchmark Sensex ended down 1.3% at 37,789.13, posting its lowest closing level in nearly eight weeks.

On the Nifty, index heavyweights such as Reliance Industries Ltd and State Bank of India were among the top laggards, shedding 3.3% and 2.4%, respectively.

Zee Entertainment Enterprises Ltd lost the most in terms of percentage, ending over 10% lower.

Leave Your Comment(s)