Global cues depress equity indices; Sensex declines over 200 points
Mumbai: Weak global markets suppressed the key Indian equity indices on Tuesday with the benchmark 30-scrip Sensex on the BSE losing over 200 points.
Globally, key markets were weighed down by signs of a resurgent trade war after reports said that US President Donald Trump might consider imposing tariffs on additional $200 billion worth of Chinese goods.
According to analysts, heavy selling pressure was witnessed in auto, metal and banking stocks.
At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,710.45 points, down 89.40 points or 0.83 per cent from the previous close of 10,799.85 points.
Similarly, the BSE Sensex, which had opened at 35,552.47 points, closed at 35,286.74 points (3.30 p.m.) -- down 261.52 points or 0.74 per cent -- from its previous session's close of 35,548.26 points.
The Sensex touched a high of 35,552.47 points and a low of 35,249.06 points. The BSE market breadth was bearish with 1,918 declines and 710 advances.
Stock-wise, on the Sensex, ITC, HDFC Bank and HDFC gained during the day, whereas Vedanta, Sun Pharma, Infosys, Reliance Industries, Mahindra and Mahindra (M&M) and Tata Motors (DVR) were the major losers.
On the NSE, Bajaj Finance, Gail and ITC were the highest gainers while Vedanta, Indian Oil Corp and Hindalco Industries lost the most.