MUMBAI : India's benchmark equity indices closed lower on Tuesday dragged down by metal stocks after US President Donald Trump slapped tariffs on steel and aluminum imports from Brazil and Argentina, stoking fresh concerns over global trade.

BSE Sensex fell 126.72 points or 0.31% to close at 40,675.45. The Nifty 50 index ended at 11,994.20, down 54 points or 0.45%.

The BSE Metal Index fell 2.67% after Trump slapped tariffs on steel and aluminum imports from Brazil and Argentina. Jindal Steel, Tata Steel, Steel Authority of India, JSW Steel Ltd, Vedanta Ltd, Hindalco Industries, Hindustan Zinc and National Aluminium ended 1-6% lower.

Bharti Airtel shares fell nearly 3% to 445.50 after Moody's said AGR dues are credit negative for telecom operators.

Shares of Dewan Housing Finance lost nearly 5% after the insolvency court accepted bankruptcy proceedings against the company.

IFCI gained as much as 9.60% after the company said it received bids for sale of its entire stake in NSE.

Yes Bank fell 7% to close at 59.50 after brokerages expressed concerns over the quality of potential investors in the bank announced by the private sector lender on Friday.

Shares of Prestige Estates Projects gained 9% to close at 352. Intraday, the stock traded close to its all-time high of 356, touched on January 2018, following optimisation of the strong pipeline of rental assets.

On the BSE, 865 shares rose and 1606 shares fell. A total of 203 shares were unchanged. In Nifty 50 index, 11 stocks advanced while 39 stocks declined.

Asian markets ended mixed on Tuesday. Australia's S&P/ASX 200 fell 2.19% and Japan's Nikkei225 lost 0.64%. China's Shanghai Composite index gained 0.31% and Taiwan's Taiex index rose 0.25%.

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