Sensex dives 261 points, Nifty settles at 10,710 as trade tensions escalate

Benchmark indices BSE Sensex and NSE’s Nifty 50 declined for the second straight day on Tuesday following sell-off in global equities. Global stock markets fell after US President Donald Trump escalated trade tensions with China by threatening additional tariffs on Chinese goods worth $200 billion. Oil prices fell on expectations that producer cartel Opec and key ally Russia will gradually increase output. The Indian rupee weakened to near one-month low against the US dollar. Meanwhile, foreign investors sold shares worth Rs754.43 crore on net basis, while local investors purchased shares worth Rs824.10 crore on Monday, provisional data showed.BSE Sensex closed lower by 261.52 points, or 0.74%, to 35,286.74, while the Nifty 50 fell 89.40 points, or 0.83%, to close at 10,710.45. BSE MidCap and SmallCap fell 0.98% and 1.29%.All the sectoral indices ended in negative territory with metal, energy and basic materials losing over 1.6%. ITC, ONGC, HDFC Bank and HDFC were among the top gainers, whereas Vedanta, Adani Ports, M&M and Reliance Industries were major losers.Get 2 Days Free Trial Click Here 
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