Indian benchmark indices snapped three sessions of gains to end lower on Wednesday amid negative global sentiment. PSU banks, auto and metals dragged the most in the domestic market. Investors also remained cautious ahead of May F&O expiry and Q4 GDP data due later this week.

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Asian shares also struggled to find ground over worries of the ongoing US-China trade tensions.

The Sensex settled 248 points lower at 39,502, while the Nifty50 lost 68 points to end at 11,861. The broader markets underperformed the benchmark indices with Nifty Midcap and Nifty Smallcap indices down 0.8 percent and 0.7 percent, respectively.

Bharti Infratel, Sun Pharma, GAIL, TCS, and HCL Technologies were among the major gainers on the Nifty50, whereas JSW Steel, SBI, Tata Steel, Zee Entertainment, and Cipla led losses.

All sectoral indices, except Nifty IT, ended the day in the red. Nifty PSU Bank lost the most, down over 2.8 percent followed by Nifty Metal (down 2 percent) and Nifty Auto (down 1.4 percent). Meanwhile, Nifty IT gained 0.7 percent.

IT index gained, led by TCS, NIIT Tech, Wipro, and HCL Tech, up in the range of 1-2 percent.

PSU Banks were under pressure with Punjab National Bank, SBI, Central Bank of India, Canara Bank, and Bank of Baroda down between 2.5-5 percent.

Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.5 percent. Chinese shares started on the back foot but bounced off early losses to be marginally higher. Australian shares ended 0.7 percent lower while Japan’s Nikkei faltered 1.2 percent.

First Published:May 29, 2019 3:53 PM IST