As the trade war escalates, the equity benchmark indices extended their loss and for the fourth day and ended lower.<\/p>\n
Sensex closed at 38,960.79 plunging 491.28 points, or 1.25% while the broader Nifty dropped below 11,700-mark tanking 151.15 points, or 1.28%, at 11,672.15.<\/p>\n
The benchmark equity market opened in the red zone taking cues from US markets on Friday and unsteady Asian markets this morning.<\/p>\n
Tata Steel, Tata Motors, ONGC, Vedanta and Sun Pharma were the worst performing stocks dropping as much as 5.73%.<\/p>\n
The broader market also\u00a0 with BSE Midcap and Smallcap indices losing 1.29% and 1.35% respectively.<\/p>\n
Asian shares got off to a uneasy start on Monday as investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk in check.<\/p>\n
Capital Goods index can do well while Banks, Realty and FMCG indices could underperform. On the other hand, Nifty could face resistance at 11864, while 11770 remains a support. Among stocks under coverage, PI Ind, NCC, KEI, Aarti Ind, Infosys could do well, said a researcher.<\/p>\n
The domestic markets saw a negative sentiment on Monday morning as BSE Sensex dropped over 150 points and the NSE Nifty was dragged below the 11,800 mark in early trade, amid losses in index heavyweight RIL, ITC and HDFC stocks. The 30-share index was trading 175.29 points, or 0.44 per cent, lower at 39,276.78 at 0930 hours. Similarly, the broader NSE Nifty was quoting 50.20 points, or 0.42 per cent, down at 11,773.10.<\/p>\n
The markets had tumbled in the last session as well. On Friday, the BSE gauge settled 289.29 points, or 0.73 per cent, lower at 39,452.07, and the broader NSE Nifty slumped 90.75 points, or 0.76 per cent, to close at 11,823.30.<\/p>\n
US indices are trading at resistance levels, which is an indication of weakness to persist. Among others in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading in their respective early sessions. Meanwhile, foreign institutional investors sold equity worth Rs 238.64 crore, while domestic institutional investors bought shares to the tune of Rs 376.47 crore, provisional data available with stock exchanges showed on Friday.<\/p>\n
On the other hand, the Indian rupee depreciated 6 paise to 69.86 against the US dollar. The global oil benchmark Brent crude futures were rallying 0.31 per cent higher at 62.20 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"
As the trade war escalates, the equity benchmark indices extended their loss and for the fourth day and ended lower. Sensex closed at 38,960.79 plunging 491.28 points, or 1.25% while the broader Nifty dropped below 11,700-mark tanking 151.15 points, or 1.28%, at 11,672.15. The benchmark equity market opened in the red zone taking cues from […]<\/p>\n","protected":false},"author":1,"featured_media":1349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[4023,115,211],"class_list":["post-5531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-brent-crude-futures","tag-nifty","tag-sensex"],"aioseo_notices":[],"yoast_head":"\n