Indian shares ended lower on Wednesday, dragged by oil explorers including Reliance Industries Ltd and banks such as ICICI Bank Ltd fears of a global trade war resurfaced after a key advocate for free trade in the White House resigned. The benchmark BSE index closed down 0.85 percent at 33,033.09, its lowest since December 8 while the broader NSE index fell below 10,200 level for the first time since December 7, ending 0.93 percent lower at 10,154.2.
Adani Ports and Special Economic Zone, down nearly 7 percent, was the biggest percentage loser on the Nifty index. Both indexes fell for a sixth straight session, their longest losing streak in a month. Reliance Industries ended 2.03 percent down at its lowest close since November 15, 2017 while ICICI Bank dropped 2.83 percent to its lowest close since October 24, 2017.
Global equities fell after White House economic adviser Gary Cohn, seen as a bulwark against protectionist forces within the US President Donald Trump's administration, announced his departure, and Trump said he would push ahead with his plan to impose heavy tariffs on steel and aluminium imports.
Jindal Stainless (Hisar) Ltd fell 4.77 percent and Hindalco Industries Ltd dropped 3 percent, with the stocks on course to extend their losses into a third straight session. Oil explorers such as Reliance Industries Ltd and Oil and Natural Gas Corp Ltd fell as much as 1.16 percent and 1.78 percent, respectively, as crude oil benchmark Brent futures shed 0.71 percent.
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