Sensex, Nifty close lowest since mid-May, financials hurt most

Indian shares settled lower for a fourth straight session on Tuesday, weighed down by losses in financial stocks, with State Bank of India closing at an over one-month low.

The broader NSE Nifty ended 0.13% lower at 11,331.05, while the benchmark BSE Sensex closed down 0.13% at 37,982.74. Both closed at their lowest since mid-May.

State Bank of India dropped 2.5% and was the biggest percentage loser on both the indexes. The Nifty PSU Bank index fell 3.1%.

HDFC Bank Ltd, the country's biggest lender by market value, slipped 1.5% while its largest shareholder Housing Development Finance Corporation Ltd fell 2.2%.

Power Grid Corporation of India Ltd was the top gainer, closing 3.1% higher.