Due to Global Trade Tensions, SENSEX & NIFTY Shows Turbulence
Benchmark indices finished lower in the beginning of the week as investors scrambled to unwind bets amid global trade tensions and unabated foreign capital outflows. However, in the initial hours of stock trading NIFTY and SENSEX have shown some positive signs of recovery.
But, talking about yesterday’s story, BSE Sensex tumbled 159 points to end at 35,264.41, while the broader NSE Nifty finished below the crucial 10,700-mark. Asian markets went into a tailspin on weak Chinese factory data ahead of the expected imposition of US tariffs this week.
Back home, profit-booking in recent gainers and a weak rupee took their toll, brokers said.
The BSE Telecom index was the biggest casualty, sinking 2.61 per cent, followed by metal and power indices.
The 30-share Sensex, after a positive opening, rose to 35,578.24 on buying by domestic institutional investors, but soon came under selling pressure.
It finally ended at 35,264.41, down 159.07 points, or 0.45 per cent.
Likewise, the 50-stock NSE barometer Nifty ended at 10,657.30, showing a loss of 57 points, or 0.53 per cent. Intra-day, it shuttled between 10,736.15 and 10,604.65.