January 30, 2020 / 10:30 AM / a month ago

Indian shares end lower on coronavirus fears; metals drag

BENGALURU, Jan 30 (Reuters) - Indian shares ended lower on Thursday, led by losses in metal and state-owned banking stocks, as worries over the economic impact of the coronavirus weighed on sentiment and as markets waited for the release of the country’s federal budget on Saturday.

The NSE Nifty 50 index closed down 0.77% at 12,035.80, while the S&P BSE Sensex ended 0.69% lower at 40,913.82.

India reported its first case of the new coronavirus on Thursday, saying a student in the southern state of Kerala had tested positive for the virus that originated in China and has killed 170 people so far.

Investor fears of the impact of the fast-spreading virus have led them to offload riskier equities and turn to safe-haven assets such as gold and bonds.

The Nifty state-owned banking index closed down 1.32%, while the metals index was down 1.39%.

Yes Bank led losses among the blue-chip stocks, falling 5.22%, while Bajaj Auto, the top gainer, rose 1.74%. (Reporting by Derek Francis in Bengaluru; Editing by Amy Caren Daniel)

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