The Sensex and Nifty closed lower for the second straight day,
tracking a sell-off across global markets after the US and China
reignited their trade dispute.
The Sensex plunged around 262 points to end at a two-week low of 35,286, while the broader Nifty dropped 89 points to 10,710.
markets crashed after US President Donald Trump's threat to impose a 10
percent tariff on another $200 billion of Chinese goods drew warnings
from Beijing of about $50 billion retaliatory penalties on US goods.
selling by foreign funds and a weak rupee added to the gloom, brokers
said. Vedanta was the biggest loser in the Sensex pack, sinking 3.55 per
cent, followed by Adani Ports that fell 2 per cent. Only ITC, HDFC
Bank, HDFC Ltd and ONGC managed to close in the green.
sectoral indices ended in the red. Metal fell 1.69 per cent, followed
by realty, oil and gas, IT and teck sectors among others.
pressure also gathered momentum in broader markets, with the BSE
small-cap index falling 1.29 per cent and the mid-cap index losing 0.98
Market breadth was negative with 676 stocks closing higher against 1951 ending in the red.