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Shares may extend losses

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Trading of index futures on the stock exchange indicates that the Nifty could fall 12.50 points at the opening bell.

Overseas, Asian market were in broadly negative territory on Tuesday. US stocks closed mostly higher Monday, with the and the Nasdaq each snapping a four-day losing streak on the back of a recovery in

The reportedly announced that it was in the process of coordinating a second meeting between US and North Korean leader

Trade also remains another focal point for markets, with and the US yet to secure a deal that would replace the North American Free Trade Agreement. Trump announced last Friday that he was ready to slap tariffs on an additional $267 billion of Chinese imports, on top of the $200 billion already in the administration's sights.

On the data front, consumer borrowing picked up in July, according to the Federal Reserve on Monday. Total consumer credit rose $16.6 billion in July to a seasonally adjusted $3.91 trillion. That's an annual growth rate of 5.1%.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 841.68 crore yesterday, 10 September 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 289.66 crore yesterday, 10 September 2018, as per provisional data.

Domestic stocks dropped sharply yesterday, 10 September 2018, tracking negative global cues as fears of a potentially major escalation in the Sino-US trade conflict weighed on investor sentiment, while the rupee depreciated to a fresh low, bolstering inflation concerns. The barometer index, the S&P BSE Sensex, lost 467.65 points or 1.22% to settle at 37,922.17. The index lost 151 points or 1.30% to settle at 11,438.10. The Sensex ended below the psychologically important 38,000 mark after moving above and below that level in intraday trade.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 11 2018. 07:49 IST