September 28, 2018 / 6:28 AM / in 8 months

Nifty, Sensex end lower; mark worst month in over 2-1/2 years

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai, March 4, 2015. REUTERS/Shailesh Andrade/Files

(Reuters) - Indian shares erased early gains and ended lower on Friday, wrapping up their worst month since February 2016, with auto stocks such as Maruti Suzuki (India) Ltd and Hero MotoCorp Ltd dragging the benchmark indexes lower.

Meanwhile, investors adopted a cautious stance ahead of the Reserve Bank of India’s policy meeting next week.

The benchmark BSE Sensex closed 0.27 percent lower at 36,227.14 and was down 1.67 percent on week while the broader NSE Nifty ended 0.43 percent lower at 10,930.45, shedding nearly 2 percent for the week.

The Nifty fell 6.42 percent in September while BSE index lost 6.26 percent, their worst monthly performance since February 2016, after concerns over bad debt in non-banking financial companies triggered a broad sell-off.

Hero MotoCorp ended 5 percent lower while Maruti Suzuki closed 2.7 percent down.

Reporting By Arnab Paul in Bengaluru

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