Stock markets end marginally negative on weak global cues, trade war fears

Heavy selling in some sectors was counteracted by healthy buying in others.

Stock markets end marginally negative on weak global cues, trade war fears

Both major Indian stock market indices ended the day on flat-to-negative note on Monday, on the back of weak global cues and concerns over a possibly long global trade war between the US and China.

The 30-stock benchmark BSE Sensex opened the day in the red and saw trading in a tight band that stayed in the negative. It closed at 35548 points, down about 74 points or 0.21 percent from the previous close. Similar levels of decline were witnessed in the broader indices of the BSE as well. The bearishness on the BSE saw 1,625 declines and 911 advances. 

The 50-stock NSE Nifty too had a poor day, shedding 17.85 points or 0.17 percent to close just a shade below 10800. Thirty of the Nifty's 50 stocks ended the day in the red.

Market analysts say metal, consumer durables and capital goods stocks saw heavy selling through the day. However, this was counteracted by healthy buying activity in oil and gas, auto and banking stocks.

On the NSE, Hindustan Petroleum, ICICI Bank  and Indian Oil Corp were the highest gainers while Hindalco Industries, Vedanta and Bharti Airtel lost the most.

(With inputs from IANS)

 

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