Sensex Falls Over 362pts As US China Trade Concerns Soared

Key benchmark indices continued with a negative bias throughout the session, on Monday. The Sensex was down 362-pts at 38,600.34 and the NSE Nifty50 was down 114 points at 11,598.25.

In the opening trade, benchmark indices lost over 450points after US-President shoot his statement on imposing higher tariffs on China, which hit the domestic markets also with declines in crude oil prices.

Zee Entertainment, Titan Co, Yes Bank, Tata Motors and JSW Steel were among top losers on the Nifty while Bharat Petroleum, TCS, Bajaj Finserve, ITC and Bharti Airtel were top gainers on the index.

Shares of Federal Bank rose 2.46pc after it reported a two-fold jump in net profit. Shares of YesBank fell 5.06pc after ratings downgrade by ICRA.

Among sectors, all indices ended in the red except Nifty IT index, which gained a marginal rise by 0.11%. Nifty Media, metal, realty, Auto and Banking were among major index losers.

The Nifty media index declined 2.18% at 2,297.90. Zee Entertainment fell 6.42%, followed by Dish TV, Zee media and Network18.

The Nifty Metal index declined 2.03% with major falls in Jindal Steel and JSW Steel, which declined 4.68% and 4.02% each, were leading the index’s fall, followed by NMDC, Sail and Hindalco, declining over 3% each.

Shares of Oil Marketing Companies such as BPCL, HPCL and IOC gained on Monday as the Brent Oil extended its losses.

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