BENGALURU (Reuters) - Indian shares tracked broader Asian markets on Wednesday, with metals extending their decline to a second session, as hopes of a quick initial U.S.-China trade deal dimmed following U.S. President Donald Trump's remarks.
The NSE Nifty 50 index <.NSEI> dropped 0.32% to 11,956.40, while the S&P BSE Sensex <.BSESN> slid 0.31% to 40,552.30 by 0348 GMT.
"In some ways, I like the idea of waiting until after the election for the China deal. But they want to make a deal now, and we'll see whether or not the deal's going to be right; it's got to be right," Trump told reporters in London on Tuesday, where he was due to attend a meeting of NATO leaders.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> fell 0.9% as investors turned to safe-haven assets. [MKTS/GLOB]
Among domestic indexes, metals were the top drag as global industrial metal prices took a hit on trade deal concerns.
The Nifty metals index <.NIFTYMET> fell 1.83%. Heavyweight components such as Tata Steel <TISC.NS> lost 2.41%, while JSW Steel <JSTL.NS> dropped about 2% in early trade.
Yes Bank <YESB.NS>, down about 3%, was the top loser on the Nifty. Bharti Infratel gained 1.83% and was the top gainer on the blue-chip index.