Mumbai, July 5 (IANS) Tepid investor sentiments in the Asian markets on the back of trade war concerns subdued the key Indian equity indices on Thursday.
In the Asian markets, concerns prevailed, as Friday, June 6 is the deadline set by the US to impose tarrifs on Chinese goods worth $34 billion.
Further, a depreciating Indian rupee also weakened the investor sentiments in the domestic market.
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,749.75 points, lower by 20.15 points or 0.19 per cent from its previous close of 10,769.90 points.
The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,703.17 points, closed at 35,574.55 points, down by 70.85 points or 0.20 per cent from its previous session's close of 35,645.40 points.
Sensex touched a high of 35,748.26 points and a low of 35,517.79 points during the intra-day trade. The BSE market breadth was bearish with 1,607 declines and 1,077 advances.
"The weakness came on the back of weak Asian markets as a looming deadline for imposition of US tariffs on Chinese products seemed to worry investors across Asia," Deepak Jasani, Head of Retail Research at HDFC Securities.
BNP Paribas Mutual Fund, Senior Fund Manager for Equities, Abhijeet Dey said July 6, 2018 is the deadline set by the US for imposition 25 per cent tariff on $34 billion worth of Chinese goods on more than 800 product categories.
"If implemented, China is likely to retaliate with duties of the same value on US products," he added.
Globally, the major Asian markets closed on a negative note while the European indices like FTSE 100, CAC 40 and DAX traded in the green, Jasani told IANS.
On the currency front, the rupee ended at 68.95 per dollar, 21 paise weaker than its previous close of 68.74 per greenback.
Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 159.37 crore while the domestic institutional investors sold stocks worth Rs 296.97 crore.
Sector-wise, the S&P BSE FMCG index gained the most, by 115.86 points, followed by the banking index which ended 42.12 points higher and the auto index was up 36.51 points.
On the other hand, the S&P BSE consumer durables index plunged 561.63 points, the IT index fell 225.90 points and the metal index ended lower by 179.72 points from its previous close.
The major gainers on the Sensex were Yes Bank, up 3.96 per cent at Rs 348.80; ITC, up 2.97 per cent at Rs 272.30; Asian Paints, up 2.35 per cent at Rs 1,321.85; Coal India, up 2.27 per cent at Rs 270.15; and Bajaj Auto, up 1.77 per cent at Rs 2,969.80 per share.
The top losers were Infosys, down 4.47 per cent at Rs 1,284.50; Vedanta, down 3.09 per cent at Rs 221.10; Tata Steel, down 2.71 per cent at Rs 553.50; Tata Motors (DVR), down 2.66 per cent at Rs 153.40; and Reliance Industries, down 2.53 per cent at Rs 965 per share.
This website uses cookies.
