NEW DELHI: The equity markets saw sharp decline on Monday as international markets came underneath pressure over political and trade woes.
30-share BSE Sensex slipped 300.16 points to near on 33,746.78 points while the broader 50-share NSE Nifty closed on 10,358.85, down 99.50 points.
In international markets, Asian equities fell to near three-week lows, after U.S. President Donald Trump pledged on Thursday to impose hefty price lists on steel and aluminium imports, elevating prospects of an international trade conflict.
As a results of the improvement, the Nifty Metal sub-index tanked 3.58 in keeping with cent. FMCG and auto sub-indices additionally slipped greater than a in keeping with cent each and every.
Meanwhile, Italian exit polls pointed to a hung parliament that would solid the euro zone's third-largest economy right into a political gridlock, hurting international risk appetite.
However, analysts mentioned the weakness in Indian markets is brief and a positive March-quarter corporate effects would spice up sentiment.
"The market is absorbing the negative global reports since there was a three-day break," mentioned Krish Subramanyam, co-head and equity adviser at Altamount Capital. Indian markets had been closed on Friday as a result of Holi.
Tech Mahindra, TCS , Sun Pharma and SBI had been some of the primary gainers while Tata Steel, Tata Motors and Hindalco lost the most.
30-share BSE Sensex slipped 300.16 points to near on 33,746.78 points while the broader 50-share NSE Nifty closed on 10,358.85, down 99.50 points.
In international markets, Asian equities fell to near three-week lows, after U.S. President Donald Trump pledged on Thursday to impose hefty price lists on steel and aluminium imports, elevating prospects of an international trade conflict.
As a results of the improvement, the Nifty Metal sub-index tanked 3.58 in keeping with cent. FMCG and auto sub-indices additionally slipped greater than a in keeping with cent each and every.
Meanwhile, Italian exit polls pointed to a hung parliament that would solid the euro zone's third-largest economy right into a political gridlock, hurting international risk appetite.
However, analysts mentioned the weakness in Indian markets is brief and a positive March-quarter corporate effects would spice up sentiment.
"The market is absorbing the negative global reports since there was a three-day break," mentioned Krish Subramanyam, co-head and equity adviser at Altamount Capital. Indian markets had been closed on Friday as a result of Holi.
Tech Mahindra, TCS , Sun Pharma and SBI had been some of the primary gainers while Tata Steel, Tata Motors and Hindalco lost the most.
Sensex sinks 300 points as global cues weaken on trade, political uncertainties
![Sensex sinks 300 points as global cues weaken on trade, political uncertainties]()
Reviewed by Kailash
on
March 05, 2018
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