(RTTNews) – Indian shares gave up early gains to end lower on Tuesday ahead of the upcoming two-day Goods and Services Tax (GST) Council meeting later this week.
Trade tensions kept investors on edge after U.S. President Donald Trump called trade ties with India “a totally one-sided disaster!”
“They [India] have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago,” Trump wrote on Truth Social without elaborating on when such an offer was made.
A spike in oil prices amid rising risks of potential disruptions from the Russia-Ukraine conflict and weekly Nifty F&O expiry also added to the volatility in the latter half of the session.
The benchmark BSE Sensex fell 206.61 points, or 0.26 percent, to 80,157.88 while the broader NSE Nifty index closed down 45.45 points, or 0.18 percent, at 24,579.60.
However, the BSE mid-cap and small-cap indexes edged up by 0.3 percent and 0.6 percent, respectively.
The market breadth was strong on the BSE, with 2,529 shares rising while 1,612 shares declined and 144 shares closed unchanged.
Among the prominent decliners, Mahindra & Mahindra lost 2.5 percent after reporting flat auto sales for August.
Larsen & Toubro, Tata Motors, ICICI Bank, Kotak Mahindra Bank and Asian Paints all fell around 1 percent.
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