January 14, 2019 / 6:02 AM / 6 months ago

Sensex, Nifty end lower on China trade shock

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, February 26, 2016. REUTERS/Shailesh Andrade/Files

(Reuters) - Indian shares settled lower on Monday mirroring losses across the globe after an unexpected contraction in Chinese exports raised fears of a sharper global slowdown, but the blow was cushioned by gains in Infosys Ltd.

Financials drove losses on the index, with the NSE index closing lower for the third straight session.

The benchmark BSE Sensex closed the session 0.43 percent lower at 35,853.56, while the broader Nifty ended 0.53 percent down at 10,737.60.

Infosys, however, helped trim losses on the broader index, with shares finishing the day 2.6 percent higher after the IT major raised its revenue forecast and announced a buyback.

Shares of India’s Jet Airways jumped over 18 percent after a report that Chairman Naresh Goyal was likely to step down from the board of the embattled company.

Reporting by Chandini Monnappa in Bengaluru; Editing by Rashmi Aich

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