July 10, 2019 / 10:35 AM / a month ago

Indian shares close lower, financials drag

* NSE index settles down 0.49%, BSE 0.45% lower

* Bajaj Finance top loser in the NSE index

* Tata Motors says JLR June sales down 9.6%

BENGALURU, July 10 (Reuters) - Indian shares closed lower on Wednesday amid a slew of disappointing news, with Bajaj Finance Ltd and Indiabulls Housing Finance Ltd weighing the most on the NSE index.

Domestic share markets witnessed a sharp selloff in the previous two sessions as investors were worried about a surcharge on foreign portfolio investors that was announced in the Union budget last week.

The broader NSE index closed down 0.49% at 11,498.90, while the benchmark BSE index settled 0.45% lower at 38,557.04.

Also, dampening investor sentiment were renewed concerns over trade tension between the United States and India after U.S. President Donald Trump once again warned the Asian country that its high tariffs were not acceptable.

Shares of Indiabulls Housing Finance closed 4% lower, while Bajaj Finance ended down 4.8%.

Tata Motors Ltd closed 2.66% lower, after the automaker said luxury car unit Jaguar Land Rover Automotive Plc saw a near 10% decline in monthly sales.

For the midday report, see (Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)

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