Sensex extends losses on global trade war worries, falls 132 points; Nifty slips 30 points; Re slides

Mumbai: The BSE Sensex fell over 132 points in opening trade today as investors pared their bets, tracking sharp losses in global markets on worries about an intensifying trade conflict between the US and its trade partners.

Cutting down of positions by participants in view of approaching June derivatives contract expiry on Thursday added to the downward pressure, brokers said.

The BSE 30-share barometer fell 132.26 points, or 0.37 per cent, to 35,338.09. The gauge had lost 219.25 points in the previous session.

The laggards were Tata Motors, Vedanta, Hero MotoCorp, ICICI Bank, PowerGrid, SBI, Adani Ports, RIL, Sun Pharma, HDFC Bank, Maruti Suzuki and IndusInd Bank, declining up to 1.74 percent. Sectoral indices led by consumer durables, power, banking, auto, metal and PSU stocks were in the negative terrain, falling by up to 0.59 percent.

The NSE Nifty also slipped 29.90 points, or 0.27 percent, to 10,732.55.

Meanwhile, domestic institutional investors (DIIs) sold shares worth a net Rs 86.22 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 198.68 crore yesterday, as per provisional data released by the stock exchanges.

 Sensex extends losses on global trade war worries, falls 132 points; Nifty slips 30 points; Re slides

BSE. Reuters

A weak trend at other Asian bourses following overnight losses in US markets dampened sentiment.

Hong Kong's Hang Seng was down 0.92 percent while Shanghai Composite fell 0.83 percent in early trade today. Japan's Nikkei edged lower by 0.30 percent.

The US Dow Jones Industrial Average finished 1.33 percent lower yesterday.

Rupee slides 7 paise against US dollar

The rupee fell by 7 paise to 68.20 against the US dollar in early trade today on month-end dollar demand from importers and banks.

Dealers said early losses in domestic equity markets also weighed on the rupee.

Yesterday, the rupee took a severe beating and ended sharply lower by 29 paise at 68.13 against the US currency.

The dollar weakened against other currencies overseas as worries about an intensifying trade fight between the US and its trade partners continued to hurt risk appetite.

Updated Date: Jun 26, 2018 10:05:35 IST