Sensex, Nifty slip as metal shares encounter sharp losses

Benchmark market indices Sensex and Nifty ended lower on Monday due to losses in metal stocks.

Indian shares slid 1 per cent and the Nifty 50 logged its worst session since July, dragged by a sharp dip in metals on concerns of default by Chinese property behemoths, while investors awaited further cues on monetary policy by the U.S. Federal Reserve.

The blue-chip NSE Nifty 50 index closed down 1.07 per cent at 17,396.9 on Monday, and the benchmark S&P BSE Sensex fell 0.9 per cent to 58,490.93.