You are here: Home » Markets » News
Business Standard

Trade concerns, Tata Motors drag markets lower; Sensex falls 425 points

Most Asian markets dropped on fears that US-China relations could worsen as another round of tariff hikes kicks in

Sundar Sethuraman 

Markets
Photo: Shutterstock.com

The benchmark indices posted their biggest single-day fall of the year on Friday on the back of renewed between the US and China. The 18 per cent plunge in the shares of Tata Motors, after reporting its biggest quarterly loss, weighed on the market’s performance. The ended the day at 36,546, down 425 points, or 1.15 per cent — the most since December 21. Ending its five-day gaining streak, the declined 126 points, or 1.14 per cent, to 10,944. Most Asian dropped on fears that US-China relations could worsen as another round of tariff hikes kicks in. The fall in the comes a day after the RBI cut interest rates. All 19 sectoral indices ended with losses, except realty and telecom. Domestic institutional investors pulled out Rs 960 crore from equities, even as foreign institutional investors bought shares worth Rs 844 crore.

chart
.

First Published: Sat, February 09 2019. 02:20 IST
RECOMMENDED FOR YOU