October 7, 2019 / 4:58 AM / a month ago

Nifty, Sensex mark worst losing streak since July as resources drag

The Bombay Stock Exchange building is seen from a facade in Mumbai, May 16, 2018. REUTERS/Francis Mascarenhas/Files

BENGALURU (Reuters) - Indian shares ended lower for a sixth straight session on Monday, led by losses in steelmakers and energy stocks as worries over slowing economic growth persisted.

The broader NSE Nifty closed down 0.43% at 11,126.40, while the benchmark BSE Sensex settled 0.38% lower at 37,531.98. The indexes last posted losses for six consecutive sessions in July.

India’s struggle with slowing economic growth took a further hit last Friday, when then Reserve Bank of India cut its real GDP growth forecast for 2019-20 to 6.1% from a prior projection of 6.9%.

Oil marketing firm Bharat Petroleum Corporation Ltd fell 4.8% and was the top loser on the NSE Nifty.

JSW Steel Ltd shed 3.1%, while Tata Steel Ltd slipped 2.5%.

Aurobindo Pharma Ltd plunged 19% after reports said the U.S. Food and Drug Administration flagged lack of good manufacturing practices at the company’s Telangana plant.

Reporting by Chris Thomas in Bengaluru; Editing by Maju Samuel

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