Sensex, Nifty rally loses steam ahead of US-China trade deal
Photo Credit: Reuters

Indian shares snapped a four-day gaining streak on Wednesday after a top US official said tariffs on Chinese goods would remain in place for now, making investors skittish ahead of the signing of an initial trade deal between the two countries.

The NSE Nifty 50 Index ended 0.15% lower at 12,343.3, after falling to 12,278.75 earlier in the day, while the S&P BSE Sensex index settled 0.19% lower to 41,872.73 after hitting a session low at 41,648.110.

US Treasury Secretary Steven Mnuchin said late on Tuesday that Washington would keep tariffs on Chinese goods until the completion of a Phase-II trade agreement between the top two economies.

IndusInd Bank Ltd shed the most on the Nifty and Sensex, falling 5.5% to its lowest close since November 19, a day after the private-sector lender reported a spike in bad loan additions for the third quarter.

Wipro Ltd slid 3.5%, marking its worst day in over six months, after the IT firm forecast March-quarter revenue growth below analysts' expectations and reported a dip in third-quarter profit.

Meanwhile, two-wheeler maker Hero MotoCorp Ltd surged in the last hour of trade to settle 2.7% higher, while Yes Bank Ltd climbed 3.1%.

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