Thursday, 19 April, 2018

Sensex Up Over 200 Points; Nifty Climbs Above 10400

15:43 PM		
	  	   
   
 

  						Sectoral trend at close
All but Nifty FMCG sector settled in red.
Source NSE 15:43 PM Sectoral trend at close All but Nifty FMCG sector settled in red. Source NSE
Nellie Chapman | 06 March, 2018, 06:51

A major driver for the Monday's performance was USA president Donald Trump's new import tariff announcements for steel and aluminium last week, which saw global markets take a beating through Friday.While Indian bourses were closed on Friday on account of Holi, both Sensex and Nifty reacted negatively to the news on Monday, mirroring their global peers.

The markets tanked for the fourth straight session on Monday as United States president Donald Trump blew the bugle for a trade war. A short correction will continue to happen in the markets.

"Global headwinds on account of the USA government's plans to impose tariffs on imported metals affected the domestic market".

The Sensex closed below 34,000-level at 33,746.78 points, registering a decline of 300.16 points or 0.88 per cent. Economists believe this move could trigger a fresh bout of trade wars globally. "Markets are anxious what China and the European Union will do, whether they will retaliate".

Losses were seen across most sectors with metal and oil and gas stocks dragging the indexes.

09:15 AM		
	  	   
   
 

  						Sectoral trend
All but Nifty IT index was trading in red.
Source NSE
09:15 AM Sectoral trend All but Nifty IT index was trading in red. Source NSE

Auto stocks are also trading lower with the BSE Auto index slipping over 1% as increase in the proposed tariff hike of both steel and aluminium may impact the prices of cars and trucks. NMDC, Nalco, JSW Steel, Jindal Steel and Power, and Hindalco Industries declined 4.3-5.8 per cent.

The BSE Midcap and the BSE Smallcap indices rose 0.94% and 0.89% respectively. "I expect volatility across asset classes in the next few months", said Holland. This after the measure ended February with its worst monthly performance in two years.

According to provisional data, foreign portfolio investors sold shares worth?366.6 crore on Monday while domestic institutional investors offloaded shares worth Rs 154.2 crore.

Banks SBI and ICICI Bank rose about 1 percent after the Reserve Bank of India (RBI) said it would inject additional liquidity of Rs 1 lakh crore in March through longer tenor instruments.