August 21, 2019 / 5:33 AM / a month ago

Nifty, Sensex fall sharply; Tata Motors hits decade low

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, December 11, 2018. REUTERS/Francis Mascarenhas/Files

BENGALURU (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 U.S.-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 by 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.

Reporting by Sachin Ravikumar; Editing by Subhranshu Sahu

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