BENGALURU, Sept 8 (Reuters) - Indian shares ended lower on
Tuesday as a fresh flare-up at the country's disputed border
with China dampened investor sentiment, with the market also
tracking weakness in global peers on doubts about a recovery in
The blue-chip NSE Nifty 50 index closed 0.33% lower
at 11,317.35, while the benchmark S&P BSE Sensex closed
down 0.14% at 38,365.35.
India and China accused each other of firing in the air
during a new confrontation on their border in the western
Himalayas, further escalating military tension between the
Adding to the negative news, a domestic arm of ratings
agency Fitch said India's economy is projected to contract 11.8%
on the year in the current fiscal year.
The economy shrank 23.9% in quarter ended June, the worst
quarterly performance among all major economies globally.
The Mint newspaper said https://bit.ly/2R8cnuI on Monday a
second round of stimulus measures for the Indian economy was on
World stocks also fell on Tuesday, with
Nasdaq futures down about 2% as U.S. technology stocks
looked set to deepen a selloff from last week.
In domestic trading, the Nifty bank index ended
0.87% lower, with Axis Bank Ltd and Kotak Mahindra
Bank Ltd among the top drags on the Nifty 50.
The Reserve Bank of India on Monday outlined guidelines for
restructuring loans for Indian banks, as the sector braces for a
surge in bad loans amid the COVID-19 crisis.
Conglomerate Reliance Industries was the top boost
to the Nifty, closing up about 1%.
Media reports said the Mukesh Ambani-controlled firm was in
talks with companies such as Facebook Inc and private
equity firms Silver Lake and KKR to invest in its retail arm.
(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by