Indian markets continued to fall for the ninth straight trading day on Monday as the trade war between the United States and China continued to affect global indices. A decline of 0.1% in India’s industrial production for March also affected the markets, Mint reported.
The BSE Sensex declined 372.17 points (0.99%) to close at 37,090.82. The National Stock Exchange Nifty fell 130.70 points to finish at 11,148.20.
“Markets are currently facing headwinds from both local and global front,” Jayant Manglik, president of retail distribution at Religare Broking, told Mint.
Sun Pharmaceuticals, Yes Bank, Tata Steel, IndusInd Bank and Tata Motors were the biggest losers on the Sensex. Stocks of Sun Pharmaceuticals, Eicher Motors, Zee Entertainment, Indiabulls Housing Finance and Yes Bank declined the most on the Nifty.
Only six stocks – HDFC, Hindustan Unilever, Infosys, Bajaj Finance, Coal India and Hero Motocorp – rose on the Sensex. Bharti Infratel, Titan Company, HDFC, Tech Mahindra and Hindustan Unilever were the top gainers on the Nifty.
All other major Asian indices, except for the Hong Kong Hang Seng, finished lower on Monday. The Hong Kong market rose over 239 points. However, the Shanghai SE Composite Index fell 35 points, the Taiwan market 154 points and Japan’s Nikkei 225 over 153 points.
The Indian rupee closed 62 paise down at 70.53 against the US dollar.