logo
Plus   Neg
Share
Email

Sensex, Nifty End Lower For Fourth Session

Indian shares fell for a fourth straight session on Monday as weak global cues overshadowed the BJP's spectacular performance in recently-held elections in three North Eastern states.

Cues from Wall Street, Asia and Europe were sluggish as fears of a global trade war, disappointing services sector data from China and worries that Italy's national elections could deliver an anti-establishment government dented investors' appetite for risk.

Market participants also digested weak services sector data showing that activity in India's service industries contracted in February for the first time since November.

The benchmark BSE Sensex fell by 300.16 points or 0.88 percent to 33,746.78 while the broader Nifty index dropped 99.50 points or 0.95 percent to 10,358.85.

Aurobindo Pharma lost almost 4 percent after its Pashamylaram facility in Hyderabad received nine observations from the U.S. FDA.

Metal stocks like Vedanta, Coal India, Tata Steel and Hindalco tumbled 3-5 percent after U.S. President Donald Trump proposed to impose an import tariff of 25 percent on steel and 10 percent on aluminum.

On the positive side, Thomas Cook India rallied 5.4 percent on restructuring news. TCS, Sun Pharma and Tech Mahindra climbed 2-4 percent.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT