Markets fall on rupee, macro pressure and tensions over US-China trade war

The benchmark BSE Sensex fell as much as 280 points on Thursday, before stemming some losses to close at 35,038, down 179 points, or 0.5 per cent.

Equity markets on Thursday came under heavy selling pressure, particularly stocks in the small-cap and mid-cap space, on concern over deteriorating macroeconomic fundamentals, with the rupee declining to a lifetime low against the dollar. A trade war between the US and China weighed on global markets, with most Asian and European markets declining. Analysts said fears that new US tariffs would hit global growth was keeping investors on edge, prompting a pullback from risky assets.

The benchmark BSE Sensex fell as much as 280 points on Thursday, before stemming some losses to close at 35,038, down 179 points, or 0.5 per