Sensex drops 300 pts to 2-week low amid global trade war fears
Team Udayavani, Mar 5, 2018, 5:41 PM IST
Mumbai: The benchmark BSE Sensex today dropped by 300 points to close at a two-week low, extending its fall for the fourth straight session as metal, banking, oil & gas and auto stocks slumped after the US president fuelled fears of a global trade war.
The 30-share barometer resumed lower and fell to a low of 33,653.41 in intra-day trade. The index settled at 33,746.78 down 300.16 points, or 0.88 per cent. The gauge had lost 398.81 in the previous three sessions.
This was the lowest closing since February 20 when it had finished at 33,703.59.
The 50-issue NSE Nifty too cracked below the 10,400-mark and hit a low of 10,323.90 before finishing 99.50 points, or 0.95 per cent down at 10,358.85.
Market sentiment was dampened as India’s services sector contracted in February and fell to a six-month low, as new work orders suffered amid weak underlying demand conditions, says a monthly survey.
The seasonally adjusted Nikkei India Services Business Activity Index fell from 51.7 in January to 47.8 in February, its lowest level since August.
Overseas, weakening trend in Asian bourses as the fallout from Trump’s steel and aluminium tariffs continued to spook investors and dampen the market sentiment, brokers said.
The losses came even as Bharatiya Janata Party’s strong showing in three Northeast states, they added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision
SC orders liquidation of grounded air carrier Jet Airways’ assets
Home-cooked meals become dearer in October on costlier vegetables
Sensex, Nifty surge over 1 pc on heavy buying in IT stocks as Trump set to win US polls
Das says incoming data on GDP growth mixed but positives outweigh negatives
MUST WATCH
Latest Additions
Felling of trees: What is being done to restore Delhi Ridge? SC asks DDA
Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured
UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities
Kavoor Police arrest two notorious cattle thieves
Udupi: Unidentified body found near Bailkere’s Vidhyodaya School
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.