June 21, 2019 / 10:32 AM / 3 months ago

Indian shares post third weekly fall; auto, financials drag

* NSE index closes down 0.91%; BSE index ends 1.03% lower

* Auto index falls 1.22% at close

* HDFC down 2.66%

BENGALURU, June 21 (Reuters) - Indian shares settled lower on Friday, marking their third weekly decline, as uncertainty over the U.S.-China trade negotiations and rising oil prices outpaced investor euphoria around the Federal Reserve’s rate-cut signals.

The broader NSE index closed down 0.91% at 11,724.10, while the benchmark BSE index ended 1.03% lower at 39,194.49. For the week, the NSE and BSE indexes closed down 0.78% and 0.68%, respectively.

The Nifty auto index was down 1.22% at the closing bell, as the sector battles production cuts and lean demand for passenger vehicles.

Sector heavyweights Maruti Suzuki and Hero Motocorp ended 3% and 2.24% weaker, respectively. Earlier in the session, Maruti’s shares were among NSE index’s top losers after it warned of price increases on one of its top-selling cars, as it copes with new emission norms.

Mortgage lender HDFC closed 2.66% down, denting the financial sector, whose index ended 0.85% weaker.

Among gainers, ICICI Bank closed 3.1% firmer. (Reporting by Derek Francis in Bengaluru, Editing by Sherry Jacob-Phillips)

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