Sensex falls for 6th consecutive day |
Indian share Markets wilted under selling pressure for the sixth straight day as investor sentiment remained grim amid US-China trade tensions and declining foreign fund inflows. The 30-share BSE Sensex plunged 487.50 points, to end at 37,789.13; while the broader NSE Nifty sank 138.45 points, to 11,359.45. According to traders, domestic equities tracked weakness in global markets, which have been rattled ever since US President Donald Trump on Sunday threatened to hike tariffs on 200 billion USD worth of Chinese goods this week. The recent flare-up in tensions between the world`s two top economies has sent investors scurrying to safe-haven assets like bonds, gold and the Japanese yen. A depreciating rupee, mixed corporate earnings and caution ahead of the elections outcome added to the gloom. Index heavyweight Reliance Industries was the biggest loser in the Sensex pack, skidding 3.35 per cent, followed by Bajaj Finance, Tata Motors, Bajaj Auto, SBI and Vedanta. "The domestic markets have been on the decline for the last two days mainly due to the flare up in the US-China trade war. A lack of an agreement between the two economies could hurt global growth in the near term.
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