Sensex falls 300 pts, Nifty around 11,600 on fresh US-China worries; HUL slips
Oil prices tumbled by more than 2 percent on Monday after US President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies. Gold prices climbed on Monday after US President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-US trade tensions, which prompted risk-off sentiment and boosted safe-haven assets.
It is a gap-down opening for the Indian indices on Monday with Nifty slipped below 11,600 level.
At 09:17 hrs IST, the Sensex is down 380.44 points or 0.98% at 38582.82, and the Nifty down 111.90 points or 0.96% at 11600.40.
HDFC Bank, SBI, Maruti Suzuki, RIL, Titan, Yes Bank, Tata Steel, Vedanta, Tata Motors, Hindalco, Infosys, Indiabulls Housing, HUL are among major losers on the indices, on the other hand, gainers are BPCL, Power Grid, Asian Paints and Eicher Motors.
All the sectoral indices are trading red led by metal, IT, infra, bank, auto, pharma, and FMCG.
Sensex and Nifty are trading lower in the pre-opening session with Nifty around 11,650 level.
At 09:02 hrs IST, the Sensex is down 43.32 points or 0.11% at 38919.94, and the Nifty down 75.10 points or 0.64% at 11637.20.
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