May 7, 2019 / 6:50 AM / 12 days ago

Nifty, Sensex end weaker amid trade worries; Reliance top drag

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, December 28, 2017. REUTERS/Danish Siddiqui/Files

BENGALURU (Reuters) - Indian shares fell sharply on Tuesday to mark their worst close in nearly six weeks, dragged lower by index heavyweights such as Reliance Industries Ltd, amid lingering trade tensions between the United States and China.

U.S. President Donald Trump’s latest threat to ramp up trade tariffs on China stoked worries that trade talks may be derailed and rattled world markets, with Asian shares fragile after touching a five-week low.

The broader NSE Nifty closed 0.87 percent lower at 11,497.9, while the benchmark BSE Sensex ended down 0.84 percent to 38,276.63.

The NSE index broke below a key support of 11,556, the 23.6 percent Fibonacci retracement level on the uptrend from Feb. 19 low to April 18 high.

Graphic: NSE Nifty - tmsnrt.rs/2VJnQoN

Indian conglomerate Reliance Industries dived 3 percent in its worst session since Dec. 10, 2018, while private-sector lender ICICI Bank Ltd dropped 3.7 percent to its lowest close in over six weeks.

Reporting by Chris Thomas and Gaurav Dogra in Bengaluru, Editing by Sherry Jacob-Phillips

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