Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 plunged to five-month lows on Friday as jittery investors rushed to sell shares on heightened fears of a trade war after US President Donald Trump announced tariffs on up to $50 billion of Chinese imports. The sharp sell-off in Indian markets was part of the global meltdown, as global risk aversion intensified.

Benchmark indices on Friday witnessed a massive decline over global trade war fears.

The escalating tensions between Beijing and Washington sent shivers through financial markets, as investors foresaw dire consequences for the global economy if trade barriers start going up.

Key indices on Thursday gained strength after the federal reserve hiked rates as widely expected.

The 30-share BSE Sensex was up 138.34 points at 33,274.52 and the 50-share NSE Nifty rose 49.40 points to 10,204.70.

The Sensex on Monday dropped below the 200-day moving average (DMA) — a key technical support level — for the first time since November 2016. Further, 18 of the 30 scrips of the Sensex are currently trading below their 200-DMA, indicating a broad-based weakness. Volatility could also be on the rise as the VIX index has surged 25 per cent this year.

The current bout of selling in the market was started in early February. It was triggered by a global sell-off due to hardening of US bond yields.

The benchmark BSE Sensex turned choppy in early trade today amid weak global cues and a widened current account deficit, which rose to 2 % of the GDP at $ 13.5 billion in the December quarter.

The 30-share index rebounded by 99.79 points in opening deals only to turn choppy thereafter. The gauge was trading 32.96 points, or 0.10 %, lower at 33,143.04. It had lost 741.94 points in the previous four sessions.

Mumbai: Benchmark equity index Sensex plunged more than 500 points on Friday, after the Telugu Desam Party (TDP) finally decided to quit the National Democratic Alliance (NDA), and a vibrant primary market diverted some investor interest.

The BSE’s 30-share Sensex shed 1.51%, or 509.54 points, to close at 33,176 points, while the National Stock Exchange’s (NSE’s) 50-share Nifty declined 1.59%, or 165 points, to close at 10,195.15 points. For the week, they are down 0.39% and 0.31%, respectively.

NEW DELHI: Equity indices on Friday started off on a negative note as trade war woes reached new heights after US dragged India to World Trade Organisation (WTO) over six export subsidy schemes.

The BSE index opened absolutely flat but soon started to slip as bank and metal stocks cracked. The two sectors have been under pressure due to frauds and Trump administration's decision to impose substantial tariffs on steel and aluminium imports, respectively.

The benchmark BSE Sensex fell over 130 points in early trade on Friday amid weak Asian cues and selling on oil & gas, metals, power, PSU and IT counters.

Brokers said persistent selling by investors, capital outflows by foreign funds and a weak trend in Asian bourses due to increased concerns over the prospect of a global trade war dampened market sentiment.

Mumbai Market benchmark BSE Sensex extended losses for the third straight day by shedding over 66 points in early trade today on selling by domestic institutional investors and foreign funds amid mixed Asian cues.

Also, selling pressure in oil & gas, FMCG, metal, PSU, bank and power stocks amid a depreciating rupee to weighed on market sentiment.

The benchmark BSE Sensex drifted 150 points lower and the NSE Nifty slipped below the 10,400-mark in early deals on selling in metal, PSU and realty counters amid weak global cues.

Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade.

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