Sensex, Nifty Lose Momentum Amid Rising Trade War Fears

Indian equity benchmarks’ three-day upmove slowed down amid escalating trade tension between U.S. and China.

The S&P BSE Sensex rose 0.07 percent or 26 points to 36,266 and the NSE Nifty 50 index was little changed 10,948.

U.S. moved forward with proposed import tariffs on an additional $200 billion in Chinese goods by releasing a list of targeted products.

Back home, for most part of the day, the Sensex and Nifty moved in a narrow range as gains in TCS and Reliance Industries were offset by losses in ICICI Bank, Maruti Suzuki and HDFC.

Fourteen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal index’s 3 percent drop. On the flipside, the S&P BSE IT index was top gainer, up 2.4 percent.

The mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap index fell 0.7 percent and the S&P BSE SmallCap index declined 0.3 percent.

Source link

Leave a Reply

Your email address will not be published.