Sensex down more than 100 points after flat start today, Nifty breaches 10,950

After a flat trading on Tuesday, the domestic equity market reportedly slipped into the red. Selling pressures have hit the market within fifteen minutes of the trading. The Sensex has also reportedly extended to more than 100 points while the Nifty is hovering below 10,950 marks.

Within few minutes of trading, the Sensex traded at  36,249.49, down to 55.53 points or 0.15 per cent and the Nifty50 was at 10,943.35, 24.05 points or 0.22 per cent lower. Except, Pharma companies as they are trading in green, all the sectoral indices traded in the red, led by losses in banking, financial services and auto stocks.

According to the Reuters report, “Asia stocks struggled as a fresh round of US-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth.”

MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.2 per cent. But Japan’s Nikkei bucked the trend and edged up nearly 0.2 per cent.

The Reserve Bank of India on Monday said that, amid the efforts by authorities to reassure investors over a brewing debt in the non-banking financial sector. In an open market operation, it would buy Rs 10,000 crore ($1.38 billion) of government bond.

Foreign portfolio investors on Monday reportedly sold net equities of Rs 523.94 crore while domestic institutional investors purchased net shares of Rs 1,527.67 crore. The Sensex had closed at 36,841.60 after falling 536.58 points and the Nifty at 10,967.40, down 175.70 points,  provisional data from the NSE says.

According to the report, Dena Bank shares have risen over 3 per cent in the Tuesday morning trade after its Board approved the merger proposal with Bank of Baroda.

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