Sensex falls 186 pts, Nifty opens below 10,900; IOC, HPCL, Bharti Airtel and Infosys major gainers
Global stocks today took another beating while investors piled on to safe-haven assets after US President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month.
The last day of this week's trading session started weak as benchmark indices are trading lower with Nifty below 10,900 level. The Sensex is down 185.94 points or 0.50% at 36,832.38, while the Nifty 50 is down 61.35 points or 0.56% at 10,918.65. Among major gainer stocks today include IOC, HPCL, BPCL, Bharti Airtel and Infosys, while major losers are: Ashok Leyland, JSW Steel, Tata Steel, JSPL, Vodafone Idea, HDFL, Vedanta, Hindalco, Bhandhan Bank, IndusInd Bank, ICICI Bank.
Indian rupee today slipped further in the early trade, while it has opened lower by 20 paise at 69.25 per dollar versus previous close of 69.05.
Amid neutral domestic institutional investors (DIIs), futures and options (F&O) and negative global markets, foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the domestic Indian markets will be Negative today, according to Zee Business report.
However, global stocks today took another beating while investors piled on to safe-haven assets after US President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month. MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.51% to its lowest level since mid-June while Japan`s Nikkei tumbled 1.91%, said a Reuters report, adding that US stock futures lost 0.20% in early Asian trade after the S&P 500 skidded 0.90% to hit one-month lows overnight, while Pan-European Euro Stoxx 50 futures fell 1.5%.
US President Donald Trump`s move breaks a truce in the trade war struck in June and could further disrupt global supply chains.
Earlier on Thursday, Indian equity markets ended steeply lower, tracking losses in broader Asia and comments from US Federal Reserve Chairman Jerome Powell. However, certain stocks came in news after the markets closed, and they are likley to have an impact on the indices today are; Eicher Motors, Hero MotoCorp, Bajaj Electricals, PSP Projects Limited, and Adani Transmission.
Notably, hawkish comments from the US Fed yesterday led to decline of equity benchmarks to five-month lows. Sensex and Nifty, both, plunged around 1.25 per cent amid weak global cues. Sensex at Bombay Stock Exchange declined 462.80 points or 1.23% to end at 37,018.32, Nifty at National Stock Exchange plunged 138 points or 1.24% to settle at 10,980, while Bank Nifty fell 508.75 points or 1.76% to close at 28,367.25.
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Vedanta Limited (down 5.61%), JSW Steel (down 5.01%), State Bank of India (down 4.70%), Tata Motors (down 4.35%) and Hindalco Industries (down 4.17%) were the biggest losers yesterday.
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