INSUBCONTINENT EXCLUSIVE:
threat to China on likely tariff hikes
The comments, at this crucial stage, is all set delay progress, as China is unlikely to send its delegates to Washington scheduled for later
This along will a host of other domestic concerns are a key drag on domestic indices today
The BSE Sensex dropped 453.47 points, or 1.16 per cent, to hit a low of 38,509.79
Nifty50 had tested sub-11,600 level by the time of writing this report.
Here are key factors which led to a sharp plunge in domestic
benchmarks on Monday:
Trump comments sinks Asia, China down 5% Domestic investors can take heart from the fact that domestic indices were
Trump on Sunday announced that he would hike US tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions
5th phase of elections Adding to the nervousness was the kick start of the fifth phase of the general elections
Voting on Monday began on 51 Lok Sabha constituencies from 7 different states
In this phase, nearly nine crore voters will decide the fate of 674 candidates, including political bigwigs Rajnath Singh, Sonia Gandhi,
Rahul Gandhi and Smriti Irani
After four phases of elections, the voting percentage is 67 per cent, comparable to 67.6 per cent in 2014
Concerns over Q4 earningsThere have been concerns over mixed set of numbers by largecap majors
After five consecutive quarters of double-digit volume growth, FMCG behemoth Hindustan Unilever Ltd (HUL) on Friday reported just 7 per cent
volume growth for March quarter
Bharti Airtel, which is scheduled to announce its quarterly numbers today, is projected to report losses to the tune of Rs 1,200-1,300 crore
on a 3-5 per cent year-on-year (YoY) growth in sales
A total of 216 companies will report March quarter earnings in this trading week, BSE data suggests
Foreign flows may take a hitUS-China trade tensions is likely to take a toll on foreign flows into India and other emerging markets, which
have been pretty strong so far
Foreign inflows to India stood at Rs 72,394 in the last three months
In May so far, FPIs have pulled out Rs 367.30 crore worth of equities
Nifty nears lower end of a key range Nifty has been stuck in the 11,550-11,850 range for last 22 sessions
Dips were being bought into, but follow-up buying was missing at higher levels, analysts said
But Monday's sharp fall means the index has been trading near its lower end of the range, a break below which could bring further downside
By 9.45 am, the index has already breached its support of 11,666
Market Update:In the sensex pack of stocks, 28 were in the red while only two were in the green at around 9.30 am
Power Grid was the biggest gainer rising 0.89 per cent, followed by Asian Paints which rose 0.70 per cent.
Meanwhile shares of Tata Motors
shed the most, falling over 4 per cent, on reports that that auto major may phase out small diesel cars from its portfolio as demand is
expected to slow down due to upcoming BS-VI emission norms that would make such vehicles expensive, according to a senior company official
Other losers were Tata Steel, YES Bank, Vedanta, HDFC and IndusInd Bank.
BSE Midcap and BSE Smallcap too slipped into the red zone,
shedding 0.47 per cent and 0.36 per cent, each.
On the BSE sectoral front, all sectors declined with the BSE Metal falling the maximum,
down, 2.15 per cent led by Tata Steel.