Market opens flat as Asian markets recover from lows

Asian markets extended last week`s worldwide plunge as investors fret that Donald Trump`s controversial tariffs on $60 billion of Chinese goods will spark a trade war that would hammer the global economy.

Market opens flat as Asian markets recover from lows

New Delhi: Stock market opened in flat note on Monday on weak Asian cues.

At 9:17 am the BSE Sensex was trading 31.43 points or 0.10 percent up at 32,627.97 while the NSE Nifty was trading up 7.60 points or 0.08 percent at 10,005.65.

Selling pressure on IT, Teck and oil & gas stocks, too, weighed on market sentiment. The 30-share index slipped 60.10 points, or 0.18 percent, to 32,536.44. The benchmark had lost 539.64 points in the previous two sessions.Major laggards were Hero MotoCorp, Wipro, ITC, TCS, Bharti Airtel, Infosys, Dr Reddy's, Kotak Bank, HDFC and Bajaj Auto, falling by up to 2 percent.

Asian markets extended last week`s worldwide plunge as investors fret that Donald Trump`s controversial tariffs on $60 billion of Chinese goods will spark a trade war that would hammer the global economy. In early trade Hong Kong was down 0.3 percent, Tokyo went into the break 0.4 percent lower and Shanghai sank more than one percent. Singapore fell 0.5 percent and Sydney gave up 0.6 percent while Wellington was one percent off.

The benchmark Nikkei 225 index was down 0.87 percent or 170.43 points at 20,439.43 in early trade, while the broader Topix index edged down 0.70 percent, or 11.62 points, at 1,653.30.

 

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