The BSE Sensex plummeted over 424 points while the Nifty finished below the 11,000-mark on Friday, led by a sharp selloff in auto and metal stocks amid renewed concerns over the US-China trade conflict.<\/p>\n\n\n\n
Investors preferred to book profits following robust gains over the previous few days, even as the risk appetite was tempered by valuation and macroeconomic concerns, traders said. The 30-share Sensex cracked 424.61 points, or 1.15 per cent, to finish at 36,546.48. The broader NSE Nifty slumped 125.80 points, or 1.14 per cent to 10,943.60.<\/p>\n\n\n\n
\u201cMarkets slid on renewed worries over global trade and profit booking after the solid performance in the last one week due to interim budget and RBI policy.<\/p>\n\n\n\n
\u201cA fall in interest rates and improving outlook for consumption oriented sectors after interim budget will provide support to the market,\u201d said Vinod Nair, Head of Research, Geojit Financial Services.<\/p>\n\n\n\n
Tata Motors was the biggest loser on the Sensex, taking a knock of 17.93 per cent, after the auto major reported its biggest ever quarterly net loss of Rs 26,960.8 crore for the December quarter, hit by a one-time asset impairment in its struggling British arm Jaguar Land Rover.<\/p>\n\n\n\n
Meanwhile, foreign portfolio investors bought shares worth a net of Rs 418.01 crore Thursday, and domestic institutional investors were net buyers to the tune of Rs 294.11 crore, provisional data available with BSE showed.<\/p>\n\n\n\n
On the global front, fears of an economic slowdown resurfaced after US President Donald Trump said he does not expect to meet his Chinese counterpart Xi Jinping before the March 1 deadline in trade war negotiations between the two superpowers.<\/p>\n\n\n\n
A top White House adviser Thursday said Washington and Beijing were still a \u201csizeable distance\u201d apart in the trade talks, and no date has been set for a meeting between the countries\u2019 leaders.Elsewhere in Asia, Japan\u2019s Nikkei cracked 2.19 per cent, while Korea\u2019s Kospi dropped 1.20 per cent and Hong Kong\u2019s Hang Seng slipped 0.16 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
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