Indian shares end lower, clock best quarter so far this year

Indian shares closed lower for a third straight session on Thursday, dragged by metals and private banking stocks, but they recorded this year’s best quarterly gain and a fifth consecutive monthly jump.

The blue-chip NSE Nifty 50 index ended 0.53 per cent lower at 17,618.15 on Thursday, while the benchmark S&P BSE Sensex fell 0.48 per cent to 59,126.36.

For the quarter, the indexes climbed more than 12 per cent each and marked their sixth straight quarterly gain. An accommodative monetary policy and easing COVID-19 curbs boosted shares to record highs and helped them outperform Asian peers.

On a monthly basis, the main indexes jumped more than 2.7 per cent each in September. On Thursday, however, broader concerns about a global economic recovery, expectations of tighter US monetary policy.