Weak global cues subdue equity indices; Sensex down over 200 points (Lead)
Benchmark global markets were weighed down by signs of a resurgent trade war after US President Donald Trump on Monday reportedly threatened to impose tariffs on additional $200 billion worth of Chinese goods.
According market analysts heavy selling pressure was witnessed in auto metal and consumer durable stocks.
At 1.16 p.m. the wider Nifty50 of the National Stock Exchange (NSE) traded at 10 719.10 points down 80.75 points or 0.75 per cent from the previous close of 10 799.85 points.
Similarly the BSE Sensex which had opened at 35 552.47 points traded at 35 312.50 points (1.17 p.m.) -- down 235.76 points or 0.66 per cent -- from its previous session s close of 35 548.26 points.
The Sensex has so far touched a high of 35 552.47 points and a low of 35 290.96. The BSE market breadth was bearish with 1 859 declines and 598 advances so far.
The top gainers on the Sensex were ONGC HDFC Bank Bharti Airtel Asian Paints and ITC whereas Vedanta Tata Motors (DVR) and Bajaj Auto Adani Ports and State Bank of India were the major losers.
On the NSE Gail Bajaj Finance and HDFC Bank were the highest gainers while Vedanta Hindalco Industries and Indian Oil Corp lost the most.
--IANS rrb/mr