Sensex falls 65 points on global trade worries
The fresh trade war tensions along with unabated foreign fund outflows weighed heavily on the market sentiments, traders said.
The 30-share index was trading 65.51 points, or 0.16 per cent, lower at 40,736.66. Similarly, the Nifty slipped 23.75 points, or 0.20 per cent to 12,024.45.In the Sensex pack, Tata Steel emerged as the biggest loser with a slide of 1.95 per cent, followed by Vedanta, IndusInd Bank, Bharti Airtel, ONGC and Axis Bank.
On Monday, the Sensex closed marginally higher by 8.36 points or 0.02 per cent at 40,802.17. On the other hand, the broader NSE Nifty settled 7.85 points or 0.07 per cent down at 12,048.20.US President Donald Trump's on Monday said he would re-impose steel and aluminium tariffs on Brazil and Argentina. He alleged that both the countries are manipulating their currencies and hurting American farmers.
The US also threatened to impose tariffs of up to 100 per cent on French goods in retaliation for digital services tax.These developments triggered fresh tension among investors, particularly on spillover concerns over the US-China trade war. Asian markets fell on Tuesday as global trade tensions surfaced again after the US decision to impose tariffs on the South American countries.
Bourses in Hong Kong, Seoul, Shanghai and Tokyo were trading in negative zone.
Stocks on Wall Street ended on a negative note on Monday.Foreign institutional investors sold shares worth Rs 1,731.33 crore in the capital market in the previous session, while domestic institutional investors bought equities worth 753.99 crore, data available with stock exchange showed.
On the currency front, the rupee appreciated 8 paise against the US dollar to trade at 71.58 in early session.Brent futures, the global oil benchmark, surged 0.31 per cent to USD 61.11 per barrel. BAL
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Glee.S.T! January 2021 GST collection may have beat the December record
- Simply put, Airtel says all it now needs is spectrum to deliver 5G services at a speed of up to 900 Mbps
- India’s Prime Minister Narendra Modi may just have signalled a big allocation for defence equipment manufacturing, 3 days before the budget
- Haryana government extends suspension of mobile internet services in Sonipat, Jhajjar and Palwal till Friday
- Sourav Ganguly undergoes fresh angioplasty, two more stents implanted