Markets

Sensex tanks 352 points on trade tussle fears; all eyes on RBI policy

Benchmark Sensex plunged more than 350 points today, in line with a weak trend overseas on escalating trade war worries, as participants stayed on the sidelines ahead of RBI’s monetary policy announcement.

Sentiment dampened after China today said it was ready take countermeasures in retaliation against the new round of tariffs imposed by US President Donald Trump.

The 30-share Sensex opened positive and advanced to a high of 33,505.53 but succumbed to a sudden sell-off in the afternoon, hitting a low of 32,972.56. It finally ended 351.56 points or 1.05% down at 33,019.07.

This is the benchmark’s biggest fall since March 23, when it had lost 409.73 points.

The broader NSE Nifty, after scaling the day’s high of 10,279.85, slipped into the negative terrain to 10,111.30 before closing at 10,128.40, down by 116.60 points, or 1.14%.

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Printable version | Apr 8, 2020 11:32:14 AM | https://www.thehindu.com/business/markets/sensex-tanks-352-points-on-trade-tussle-fears-all-eyes-on-rbi-policy/article23433973.ece

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