May 21, 2019 / 4:37 AM / 5 months ago

Nifty, Sensex retreat from record highs, financials drag

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 pulled back from record highs to close 1% lower on Tuesday, as investors booked profits following a three-session rally.

The benchmark BSE Sensex closed down 0.97% at 38,969.8, while the broader NSE Nifty ended 1.01% lower at 11,709.1.

Both the indexes had gained over 6% in the three sessions to Monday.

Financial and auto stocks were the top losers on both the indexes.

Tata Motors Ltd closed down 7%, while State Bank of India settled 2% lower.

Jet Airways Ltd ended 15% higher after Hinduja Group said it was evaluating a possible bid for the cash-strapped airline.

Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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