Market Watch # 05-03-2018

Sensex falls 300 pts; metals lose shine, Tata Motors dips 3%

The rupee firmed 14 paise to 65.02 against the dollar after the greenback came under pressure as US President Donald Trump's comments raised concerns of a global trade war.

Trump on Friday said trade wars were good and easy to win. His plan to put tariffs on steel and aluminium imports triggered a negative sentiments across overseas markets.

Benchmark indices extended sell-off on heavy losses in metal, auto, oil and Gas, banking and PSU stocks after US President Donald Trump fuelled concerns of a global trade war.

Asian markets too turned negative as the fallout from Trump's steel and aluminium tariffs continued to spook investors and dampen market sentiment here, brokers said.

The 30-share BSE Sensex was down 295.79 points or 0.87 percent at 33,751.15 and the 50-share NSE Nifty declined 102.30 points or 0.98 percent to 10,356.10.

All sectoral indices led by metal, auto, oil & gas banking and PSU stocks were trading in the negative terrain.

The laggards were Yes Bank, Tata Steel, Tata Motors, Coal India, Bharti Airtel, ONGC, HUL, Bajaj Auto, Dr Reddy's HDFC, Asian Paint, Power Grid, M&M and SBI.

Technically : In nifty falls below 10250 then the fall can extend to 10,000 or even lower 9800 levels .

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