Nifty Metal index falls 2.57%. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) JINDAL STEEL 219.60 229.40 -9.80 -4.27 S A I L 72.30 74.95 -2.65 -3.54 HINDALCO INDS. 200.80 207.95 -7.15 -3.44 TATA STEEL 560.55 579.70 -19.15 -3.30 VEDANTA 274.30 283.20 -8.90 -3.14 Sectoral Trend BSE Sensex: Tata Motors gains 3.5% while Tata Steel loses 3.5% Market at close The S&P BSE Sensex ended at 33,019, down 352 points while the broader Nifty50 index settled at 10,120, down 125 points. V-Mart Retail hits new high; stock zooms 60% in two months post Q3 results V-Mart Retail hit a new high of Rs 2,325, up 20% on the BSE in intra-day trade, in otherwise weak market. In past two months, post October-December quarter (Q3FY18) results, the stock zoomed 60% from Rs 1,450 on February 2, as compared to 6% decline in the S&P BSE Sensex. During Q3FY18, V-Mart reported an increase in revenue from operations by 13% to Rs 3,680 million, EBITDA by 30% to Rs 640 million, and net profit by 27% to Rs 367 million over the corresponding period last year. Same store sales growth (SSG) for the quarter remained flat over a high base of 17% in Q3FY17. READ MORE Tata Motors jumps after strong JLR India sales Tata Motors rose 4.35% to Rs 358.30 on BSE on reports Jaguar Land Rover India reported strong sales in the year ended March 2018. On the BSE, 12.56 lakh shares were traded in the counter so far compared with average daily volumes of 5.08 lakh shares in the past two weeks. The stock had hit a high of Rs 363.45 and a low of Rs 346.10 so far during the day.
Markets erased their morning gains to end lower taking cues from their key global counterparts that slipped on the back of increased fears of a full-scale global trade war.
The S&P BSE Sensex ended at 33,019, down 352 points while the broader Nifty50 index settled at 10,120, down 125 points.
On Wednesday, China condemned the United States as the Trump administration pushed ahead with plans to slap tariffs on about $50 billion of Chinese industrial and hi-tech products, and vowed imminent countermeasures in the escalating trade dispute.
The US government has unveiled a detailed breakdown of some 1,300 Chinese industrial, transport and medical goods that could be subject to 25 percent duties, ranging from light-emitting diodes to chemicals and machine parts.
Investors are also awaiting decision on monetary policy by Reserve Bank of India (RBI). The central bank is expected to keep monetary policy steady at its April meeting but shift to a hawkish stance by the end of this year and raise interest rates early in 2019 as inflation pressures build
in other news, Rainfall during the monsoon season is expected to be 100 per cent of the long-term average, a private weather forecasting agency Skymet said earlier in the day, raising prospects of higher farm and economic growth in the $2 trillion economy.
(with Reuters inputs)