NEW DELHI: Equity indices on Monday completed in red amid fears of business war as India slapped higher tariffs on positive US products in retaliation to Washingtion's choice to remove positive business priviledges for the rustic.
The benchmark BSE sensex cracked 491.28 issues or 1.25 in step with cent to close at 38,960.79, while the wider NSE Nifty moved 151.15 issues or 1.28 in step with cent decrease to settle at 11,672.15.
On the BSE index, Tata Steel, Tata Motors, ONGC, Vedanta, Sun Pharma, Reliance, Axis Bank, Bharti Airtel, Maruti and LT had been a number of the worst performers with their stocks sliding up to 5.73 in step with cent. 28 out of 30 stocks led to red at the BSE.
On NSE, all sub-indices led to red with Nifty Metal and Nifty Auto sliding up to 2.87 in step with cent.
India, the largest importer of US almonds, imposed higher retaliatory tariffs on 28 US products including almonds, apples and walnuts from Sunday. Total business between the 2 nations stood at about $142.1 billion in 2018.
"Indian markets continued to slide today as a delayed monsoon was a cause of worry for investors... Further adding to worries are concerns around an escalation of the trade war, and impacts for India, as well as US data that showed that the economy may not need a rate cut imminently," Sunil Sharma, chief investment officer, Sanctum Wealth Management, informed news agency PTI.
Analysts be expecting the market to be guided by elements like geopolitical developments, US-China business negotiations and Fed interest rate choice amid lack of main home triggers.
Global oil benchmark, Brent crude futures fell zero.46 in step with cent decrease at $61.76 in step with barrel.
(With agency inputs)
The benchmark BSE sensex cracked 491.28 issues or 1.25 in step with cent to close at 38,960.79, while the wider NSE Nifty moved 151.15 issues or 1.28 in step with cent decrease to settle at 11,672.15.
On the BSE index, Tata Steel, Tata Motors, ONGC, Vedanta, Sun Pharma, Reliance, Axis Bank, Bharti Airtel, Maruti and LT had been a number of the worst performers with their stocks sliding up to 5.73 in step with cent. 28 out of 30 stocks led to red at the BSE.
On NSE, all sub-indices led to red with Nifty Metal and Nifty Auto sliding up to 2.87 in step with cent.
India, the largest importer of US almonds, imposed higher retaliatory tariffs on 28 US products including almonds, apples and walnuts from Sunday. Total business between the 2 nations stood at about $142.1 billion in 2018.
"Indian markets continued to slide today as a delayed monsoon was a cause of worry for investors... Further adding to worries are concerns around an escalation of the trade war, and impacts for India, as well as US data that showed that the economy may not need a rate cut imminently," Sunil Sharma, chief investment officer, Sanctum Wealth Management, informed news agency PTI.
Analysts be expecting the market to be guided by elements like geopolitical developments, US-China business negotiations and Fed interest rate choice amid lack of main home triggers.
Global oil benchmark, Brent crude futures fell zero.46 in step with cent decrease at $61.76 in step with barrel.
(With agency inputs)
Sensex plunges 491 points; Nifty ends below 11,700
![Sensex plunges 491 points; Nifty ends below 11,700]()
Reviewed by Kailash
on
June 17, 2019
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