May 9, 2019 / 6:44 AM / 3 months ago

Sensex, Nifty end lower for seventh session

A broker monitors a screen displaying live stock quotes on the floor of a trading firm in Mumbai May 23, 2013. REUTERS/Vivek Prakash/Files

(Reuters) - Indian shares ended lower for a seventh straight session on Thursday, dragged by Reliance Industries Ltd, while concerns over the resolution of a crucial Sino-U.S. trade talk dampened sentiment.

Chinese Vice Premier Liu He will look to salvage a trade deal during the two-day meet in Washington after U.S. officials said Beijing had backtracked on earlier commitments.

The benchmark BSE Sensex closed down 0.61 percent at 37,558.91. The broader NSE Nifty ended 0.51 percent lower at 11,301.8.

Index heavyweight Reliance Industries slumped to its lowest in over two months, ending down 3.56 percent after Morgan Stanley’s bearish report of the stock, saying global oil issues, and gas glut would hurt the conglomerate’s earnings.

Reliance ended in the red for four straight days.

Bharat Petroleum Corp Ltd was also among the top losers, closing 3.1 percent lower.

Reporting By Arnab Paul in Bengaluru; Editing by Rashmi Aich

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