Today it was certainly not a good day for markets all across the world after investors shivered on trade war fears. The Indian markets were no different. The key domestic indices, the S&P BSE Sensex and the Nifty50, bled for most part of the day.
The Sensex lost the 33,000 mark as it closed at a five-month low. The Nifty50 settled below the crucial level of 10,000. The 30-share Sensex pack closed at 32,596.54, down 409.73 points or 1.24 per cent while the Nifty50 settled at 9,998.05, down 116.70 points or 1.15 per cent.
The Sensex lost as much as 522.43 points during the trading session. Except IT and media stocks, all sectors on the Nifty closed in the red.
Here are the key things that you must know about Friday’s trade:
1)The top losers of the session were Axis Bank (down 3.92 per cent), YES Bank (down 3.77 per cent), ICICI Bank (down 3.19 per cent), State Bank of India (down 2.94 per cent), and Bajaj Auto (down 2.54 per cent).
2)The top five gainers in the Sensex pack were Adani Ports (up 1.97 per cent), PowerGrid Corporation (up 0.57 per cent), Infosys (up 0.54 per cent), Asian Paints (up 0.51 per cent), and Mahindra and Mahindra (up 0.49 per cent).
3)”Considering expiry week volatility prevails in to the market. Advance and decline ratio is in the favour of bears, pessimism may continue in the market. Nifty has lost almost 800 points from the top and has posted a low at 9,960 and the resistance has been shifted to 10,500. Weekly charts suggest weakness may continue for a couple of weeks. The intermediate support is placed at 9,954,” said Dyaneshwar Padwal, AVP ,Technical Analyst, KIFS Trade Capital.
4)The biggest sectoral laggard on the Nifty was the Nifty Realty index which lost 3.32 per cent. All of its 10 stocks closed in the red.
5)Dalal Street was spooked by fears of a trade war after US President Donald Trump signed a memorandum due to ‘unfair’ trading policies of China. The memorandum can affect $60 billion worth of Chinese goods.
6)In the Asian markets, China’s Shanghai Composite Index closed at 3,152.76, down 110.72 points or 3.39 per cent, Hong Kong’s Hang Seng index at 30,309.29, with a loss of 761.76 points or 2.45 per cent and Japan’s Nikkei at 20,617.86, 974.13 points or 4.51 per cent lower.
7)At the time of writing this report, Germany’s DAX traded at 11,878.84 with a loss of 221.24 points or 1.83 per cent, and France’s CAC40 was at 5,067.01, down 100.19 points or 1.94 per cent.
8)In the commodities market, futures of US West Texas Intermediate (WTI) crude traded at $64.95 a barrel with a gain of 65 cents, or 1 per cent.
9)At the time of writing this report, rupee traded at 65.02 against the US dollar, with a loss of 9 paise.>