Markets open in red on mixed global cues amidst mounting trade war fears

Mumbai: The rising crude oil prices and the escalating trade war concerns along with a weak Indian rupee, pulled the domestic equity indices in further red on Thursday.

Benchmark Sensex fell over 90 points in early trade today after the rupee sank to a lifetime low of 69.10 against the US dollar amid firming crude oil prices. The NSE Nifty also dropped by 31.30 points, or 0.29 percent, to 10,640.10.

Sectoral indices led by realty, capital goods, PSU, oil and gas, infrastructure, banking and power remained in the negative zone, declining up to 1.43 percent.

The laggards included NTPC, Coal India, L&T, Hero MotoCorp, ICICI Bank, Power Grid, SBI, Tata Motors, Adani Ports, Asian Paints, HDFC Ltd, Maruti Suzuki, Yes Bank and Bajaj Auto, falling up to 2.48 percent.

On Thursday, Asian indices were showing a mixed trend. Japan`s Nikkei 225 was quoting in red, down by 0.27 percent while Hang Seng was up by 0.52 percent, South Korea`s Kospi was down by 0.62 percent. China`s Shanghai Composite index was trading in green, up by 0.25 percent.

Overnight, Nasdaq closed in red, down by 1.57 percent while FTSE 100 was up by 1.10 percent at the closing on Wednesday.

With Agency Inputs