May 29, 2019 / 10:18 AM / 6 months ago

Indian shares end weaker amid global slowdown worries

* NSE closes 0.57% lower, BSE settles 0.62% down

* SBI sees worst session in over 3 months

BENGALURU, May 29 (Reuters) - Indian shares settled lower on Wednesday, dented by financial and material stocks such as State Bank of India and JSW Steel Ltd, amid concerns over global recession.

Asian shares traded lower as no imminent solution to the ongoing trade tensions between Washington and Beijing sparked worries of a downturn in global economy.

The prospect of a prolonged standoff between the world’s two biggest economies and the likelihood of Europe and Japan getting dragged in are making investors seriously worried about global growth.

The broader NSE index closed 0.57% lower at 11,861.10, while the benchmark BSE index ended down 0.62% at 39,502.05.

India’s largest lender by assets State Bank of India dived 3.58% in its worst session since February, while steel-maker JSW steel closed 4.44% lower.

For mid-day report, click (Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips)

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