Dynamite News
Sensex plummets 491 pts on Indo-US trade war fears
Extending losses for the fourth straight session, the BSE Sensex tanked over 491 points and the NSE Nifty dived over 151 points on Monday after investors feared India's retaliatory tariffs on US goods could open new trade war front.
Mumbai: Extending losses for the fourth straight session, the BSE Sensex tanked over 491 points and the NSE Nifty dived over 151 points on Monday after investors feared India's retaliatory tariffs on US goods could open new trade war front.
Besides, fresh geopolitical tensions in the Middle East and concerns over the advancement of monsoon also unnerved market participants. Sectorally, BSE metal was the worst hit, losing over 3 per cent, while energy index fell over 2 per cent.
The BSE gauge settled 491.28 points, or 1.25 per cent, lower at 38,960.79. The index hit an intra-day low of 38,911.49 and a high of 39,540.42.
Similarly, the broader NSE Nifty cracked 151.15 points, or 1.28 per cent, to close at 11,672.15. During the day, the index touched a low of 11,657.75 and a high of 11,844.05.