Sensex closes over 1% lower as lenders dampen market sentiment

Indian shares gave up early gains and closed 1 percent lower on Tuesday, pulled down by lenders including ICICI Bank and Housing Development Finance Corp Ltd.

The benchmark BSE Sensex fell 1.27 percent to 33,317.2, its lowest since Dec. 14, 2017, after rising 0.9 percent earlier in the session.

The broader NSE Nifty dropped 1.06 percent to 10,249.25, its lowest close since Dec. 13, 2017, after rising 0.8 percent earlier.

Both indexes ended 1 percent lower for the first time in 15 sessions and also marked their fifth straight session of decline.

ICICI Bank closed 2.74 percent lower, while HDFC ended down 0.4 percent.

The NSE Bank index closed below the 200-day simple moving average for the first time since Jan. 6, 2017.