Sensex sinks 219 pts on weak global cues; Nifty below 10,800

Sensex sinks 219 pts on weak global cues; Nifty below 10,800 thumbnail
NEW DELHI: Markets on Monday remained in red almost throughout the day amid growing trade tensions between the United States and major economies which continued to dampen investors sentiment. The benchmark BSE Sensex closed 219 points or 0.61 per cent lower at 35,470, while the broader NSE Nifty finished 59 points or 0.55 per cent below at 10,762.

“A little bit of uncertainty is there with the ongoing trade spats and there are no cues this week apart from F&O expiry which is creating some volatility,” said Hitesh Agarwal, EVP and Head – Retail Research, Religare Broking.

“Over the past few weeks, Nifty is hovering around the 10,500-10,800 range and as of now there are no directional triggers for Nifty to move either ways. Probably, if the monsoon picks up some momentum, that could help the markets go towards the 11,000 mark,” Agarwal added.

Tata Motors, ICICI Bank and Coal India were among the major losers with their stocks sinking as much as 6.21 per cent.



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