August 29, 2019 / 4:33 AM / 25 days ago

Sensex, Nifty end lower; banks among top losers

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

BENGALURU (Reuters) - Indian shares fell for a second day on Thursday, led by losses in financial stocks, as fears of a global recession and worsening U.S.-China trade relations hurt investor sentiment.

The broader NSE Nifty closed down 0.89% at 10,948.30, while the benchmark BSE Sensex ended 1.02% lower at 37,068.93.

The Nifty’s state-run bank index closed down 2.7% with all 10 constituents in the red. State Bank of India was the top loser on the indexes, finishing the session with a more than 3% fall. Shares of Jammu and Kashmir Bank Ltd settled 5.75% lower.

Reliance Industries Ltd and ITC Ltd were among the top non-financial losers on the indexes. Both stocks shed over 2% on Thursday.

Meanwhile, the blue-chip Pharam index settled 2.25% higher, with shares of Sun Pharmaceutical Industries Ltd closing at its highest in over two weeks.

Reporting by Chandini Monnappa in Bengaluru; editing by Gopakumar Warrier

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