The broader Nifty tumbled by 116 points to 9,998.05 following weak global equities after US President Donald Trump announced tariffs on Chinese goods sparked fears of a trade war amid rising oil prices.
The financial markets across the globe shook after Trump signed presidential memorandum that will target up to US 60 billion in Chinese goods with tariffs, with Beijing pledged to fight any such war to the end.
Overseas, European market were trading lower due to the mounting trade war jitters. Asian markets slumped today, tracking sharp falls in US stocks, which took a hit on fears of a trade war. In Japan, the Nikkei 225 index fell 4.51 per cent.
Moreover, back home banking stocks fell further after CBI filed two more fraud cases involving Union Bank of India and State Bank of India. Sharp selling were also seen in metal, realty, pharma, finance service and energy sectors.
The 50-share NSE Nifty closed below the psychological 10,000-mark for the first time since October 11, 2017, fell by 116.70 points or 1.15 per cent to finish at 9,998.05 after hovering in a range of 10,027.70 and 9,951.90. It witnessed an intra-day movement of about 75.80 points.
Sector-wise, Realty fell by 3.32 per cent, PSU Bank 2.17 per cent, metal 2.90 per cent, Bank 1.95 per cent, Private Pharma 1.73 per cent, Finance Service 1.66 per cent, Energy 1.00 per cent, Auto 0.93 per cent, Infra 0.83 per cent and FMCG 0.48 per cent. On the other hand, IT and Media rose by 0.41 per cent and 0.28 per cent.
Major index gainers were HclTech, InfraTel, Zeel, Adaniports, Powergrid, AsianPaint, TechM and Coal India.
The losers were Vedl, Hindalco, Axis Bank, Yes Bank, Lupin, ICICI Bank, SBIN, Larsen, Tata Steel and Tata Motors.
The market breadth, indicating its overall health, remained negative as a total of 343 scrips advanced and 1,482 declined, while 54 remained unchanged. Total securities that have hit their price bands today were 303.
The cash segment turnover eased to Rs 32,450.07 crore from Rs 27,478.66 crore as on Thursday.
A total of 17,114.19 lakh shares changed hands in 1,09,49,076 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,37,56,689.00 crore.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)