Mumbai: Indian indices ended lower over weak monsoon and ahead of the crucial US-China meet in the G-20 summit.
Private banks and auto companies fell the most on the NSE. Yes Bank and IndusInd Bank contributed most to the fall in the Nifty Private bank index.
On the contrary, Nifty PSU Bank index gained. Union Bank jumped over 4 per cent while PNB and Central Bank gained over two to three per cent.
Investors are hopeful of some kind of fiscal stimulus and talks of reforms from the government to arrest the economic slowdown. The key things to watc h would be G20 talks, Monsoons and Budget, said Sanjeev Zarbade, VP PCG Rese arch, Kotak Securities.
Auto scrips like Tata Motors, Eitcher Motors and Exide India fell investors sentiments were weighed by weakness in the passenger vehicle sales globally owing to issues around Brexit and US-China trade war.
The Sensex fell by 191.77 points to settle at 39,394.64 while the Nifty sl ipped by 52.70 points to finish at 11,788.85.
“Caution ahead of G-20 meet, weak monsoon rains and RBIs concern over NBFC’s liquidity impacted the sentiment,” said Vinod Nair, Head of Rese arch, Geojit Financial Services.
Nair added Auto and metal sectors are likely to be subdued due to low dema nd and benign raw material prices.
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