Share Market today: Sensex ends 356 points down, Nifty slips below 11,250 as trade war tensions escalate

Share Market today: Indian stock markets (Sensex and Nifty) ended in the red on Thursday, following the onset of fresh trade war worries. The Sensex dipped in the late afternoon deals following the negative closing in other Asian markets and subdued global cues on the back of renewed trade war tensions between US and China. BSE Sensex ended the day’s session at 37,165.16, down 356.46 points while NSE Nifty slipped below the psychological level of 11,250 to a day’s low at 11,249.95, down 96.25 points, and ended the day at 11,244.70. Shares of HDFC Bank, Reliance Industries, HDFC, Kotak Bank, ITC, Maruti Suzuki, TCS and M&M were the major draggers in Sensex and Nifty today.

The major sentiment dampeners in the day’s trade include RBI’s repo hike by 25 basis points, declines in the regional Asian shares following downbeat Wall Street and renewed trade war spat between US and China. Meanwhile, the US Federal Reserve kept the interest rates unchanged yesterday.

Asian stocks dropped on Thursday as the latest escalation in the Sino-US trade war hit Chinese shares, while global bond markets were rattled by increased borrowing by Washington and Japan’s new tolerance for higher yields, a Reuters report said. The US administration on Wednesday increased pressure on China for trade concessions by proposing a higher 25% tariff on $200 billion worth of Chinese imports, the report added. We bring to you the key highlights of today’s trade.

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