Yes Bank, Tata Motors push Sensex into the red

Indian shares shed early gains to end lower on Wednesday, dented by Yes Bank Ltd and Tata Motors Ltd, as uncertainty over the outcome of the general elections and ongoing Sino-U.S. trade dispute kept sentiment fragile.

Global risk appetite suffered after the United States raised the pressure by increasing tariffs to 25% from 10% on a previous $200 billion list of Chinese imports.

The broader NSE Nifty closed 0.58% lower at 11,157.00, while the benchmark BSE Sensex ended 0.55% weaker at 37,114.88. Both indexes have closed lower for 10 sessions in eleven.

Yes Bank dropped 8.3% to their lowest close since Feb 2016, after Reserve Bank of India, in a rare move, appointed a board director for the private-sector lender.

Tata Motors closed 9.3% lower.