Mumbai: Benchmark indices Sensex and Nifty fell for the fifth session in a row on Tuesday as fears around US-China trade tiff and lukewarm corporate earnings linger, stoking fears of uncertainty in markets. Marking their longest losing streak in nearly three months, the BSE Sensex closed 324 points lower and the NSE Nifty slid over 100 points. Among other factors, depreciating rupee and weak global sentiment dampened the mood on domestic bourses.
The BSE index hit an intra-day low of 38,236.18 and a high of 8,835.54. Similarly, the NSE Nifty dropped 100.35 points to settle below the 11,500 level at 11,497.90. During the day, the bourse hit a low of 11,484.45 and a high of 11,657.05 Indian bourses after starting the session on a high came under heavy selling pressure as domestic investors’ sentiment took a beating after IMF chief Christine Lagarde said US-China tensions were a ‘threat’ to the world economy.
Global markets have been rattled by the concerns over the health of the world economy ever since US President Donald Trump on Sunday threatened to hike tariffs on USD 200 billion worth of Chinese goods. Both Sensex and Nifty also marked its longest losing streak since February 19 this year.
