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Business EconomyPosted at: Sep 18 2018 5:08PM


Sensex ends lower at 37,290.67 pts on weaker global cues amidst escalating trade tensions between China, US

Mumbai, Sep 18 (UNI) The BSE Sensex fell on Tuesday by 294.84 points
to end negative at 37,290.67 on weaker global cues amidst escalating
the trade conflict between China and United States.
The Nifty of National Stock Exchange (NSE) declined by 98.85 points
to 11,278.90.
Rising global trade tensions spooked investors after US President
Donald Trump said he will impose tariffs on additional USD 200
billion worth of Chinese imports, escalating the trade conflict
between the world's two biggest economies.
The Sensex edged higher by 75 points to 37,660.19 in the morning
session. It climbed by 160 points to touch day's high of 37,745.44
in intra day, only to crash by 342 points to hit day's low of
before closing at 37,290.67, sliding by 294.84 points as compared to
its last close.
The Nifty recorded day's high and low at 11,411.45 and 11,268.95
points, respectively.
The secondary barometers such as the BSE Mid-Cap index and Small-Cap
fell by 1.49 per cent and 1.51 pc, respectively. Both these indices
underperformed the Sensex.
The sectoral indices like Materials, Industrials, Finance, Bankex
and Utilities declined that put pressure on the market for another
day, along with losses in scrips of SBI, Tata Motors, Bajaj Auto,
Axis Bank and Tata Motors DVR.
The market breadth was weak on BSE, as 892 shares advanced against
1,791 declined and 165 were unchanged.
Overseas, European stocks were trading higher.
Asian stocks ended mixed after the Trump administration decided to
impose 10 per cent tariffs on USD 200 billion worth of Chinese
imports.
President Trump will impose 10 pc tariffs on USD 200 billion worth
of Chinese imports, and those duties will rise to 25 pc at the end
of the year, according to a Monday announcement.
The White House removed about 300 goods from a previously proposed
list of affected products, including smart watches, some chemicals
and other products such as bicycle helmets and high chairs.
Beijing has already warned that it will retaliate against the
measures.
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