Indian share market holds against global weak outlook

Mumbai

After a relatively weak start on Monday, Indian share markets ended on a rather positive note even as broader global markets remained weak. While Nifty50 closed above 10,800-levels, The S&P BSE Sensex ended the day at 35,689, up 257 points while the broader Nifty50 index settled at 10,822, up 81 points

The top gainers on the Sensex include Sun Pharma, HDFC, Mahindra and Mahindra (M&M), and Axis Bank whereas Reliance Industries (RIL), and Coal India were the major losers.

Among sectoral gainers, banking and finance sectoral indices gained with Nifty Bank, Nifty PSU Bank and Nifty Private Bank index up over 1% each. Meanwhile, Nifty Pharma index was up 1.8% with Sun Pharma gaining over 4%.

Globally, investor sentiments were dampened by a trade war like situation after the recent tariff hikes by the US. As a retaliatory measure the European Union on Friday imposed tariffs on around $3.2 billion worth of American goods.

Asian shares stumbled to their lowest in six months on Friday, hurt by signs U.S. trade battles with China and many other countries are starting to chip away at corporate profits, while oil prices were choppy before an OPEC meeting to discuss raising output

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