Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Nifty, Sensex Edge Lower Amid Renewed Concerns Over US-India Trade Tension

The benchmark BSE Sensex was down 0.14% at 38,677.56 at 0515 GMT, while the broader NSE Nifty was 0.15% lower at 11,537.85.

Reuters

Updated:July 10, 2019, 11:09 AM IST
facebookTwitterskypewhatsapp
Nifty, Sensex Edge Lower Amid Renewed Concerns Over US-India Trade Tension
Image for Representation.

Bengaluru: Indian shares edged lower on Wednesday amid renewed concerns over trade tension between the United States and India, with Tata Motors and Tata Consultancy Services dragging the index lower.

The benchmark BSE Sensex was down 0.14% at 38,677.56 at 0515 GMT, while the broader NSE Nifty was 0.15% lower at 11,537.85.

"The US-India development has spooked markets," said Deven Choksey, founder, KR Choksey Investment Managers.

Ahead of the Indo-US trade talks on Friday, US President Donald Trump once again warned the Asian country that its high tariffs were not acceptable. In May, India imposed higher tariffs on 28 US products, including almonds and apples.

The markets witnessed a sharp selloff in the last two sessions as investors were worried about a surcharge on foreign portfolio investors.

"The finance minister will clarify about the surcharge and may find resolving the issue challenging as the government can't have different tax policy for domestic and global investors," Choksey said.

However, the Economic Times said an analysis https://economictimes.indiatimes.com/markets/stocks/news/higher-surcharge-to-impact-40-fpis-finmin-math/articleshow/70151338.cms by the finance ministry showed that 60% of foreign portfolio investors (FPIs) who use the corporate structure will not be impacted by the surcharge and only those that follow the trust structure will be affected.

Investors in broader Asia took a cautious stance as they weighed whether US Federal Reserve Chairman Jerome Powell would confirm or confound expectations for US policy easing this month. Powell will testify before the Congress on Wednesday and Thursday.

Shares of Tata Motors Ltd were top losers on the NSE Nifty, with a 3.5% fall, hitting their lowest since Feb. 11.

Shares of Tata Consultancy Services were down as much as 2.91%, their lowest in over six weeks, after the IT services company reported lower quarterly margins on Tuesday.

Interglobe Aviation Ltd shares fell as much as 19% after one of the co-founders of India's largest airline IndiGo alleged violation of corporate governance rules at the parent group.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 643.55 -16.19
Yes Bank 51.80 0.78
Bajaj Finance 4,034.15 -2.50
Reliance 1,414.15 -0.16
Indiabulls Hsg 218.00 -5.71
Company Price Change %Gain
Infosys 643.30 -16.21
Yes Bank 51.80 0.78
Indiabulls Hsg 218.20 -5.75
HDFC 2,115.95 0.98
Reliance 1,414.25 -0.07
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,810.75 3.15
ICICI Bank 451.15 3.05
BPCL 534.10 2.65
Titan Company 1,329.45 2.22
Cipla 453.90 2.20
Company Price Change %Gain
ICICI Bank 451.15 3.06
Coal India 208.80 1.38
Power Grid Corp 204.95 1.18
Bajaj Auto 3,123.30 1.15
Hero Motocorp 2,673.40 1.04
Top Losers
Company Price Change %Gain
Infosys 643.55 -16.19
Tata Motors 131.75 -3.73
Bajaj Finserv 8,008.85 -3.11
HCL Tech 1,064.45 -2.83
Bajaj Finance 4,034.15 -2.50
Company Price Change %Gain
Infosys 643.30 -16.21
Tata Motors 131.90 -3.51
HCL Tech 1,064.45 -2.87
Bajaj Finance 4,031.95 -2.56
Bharti Airtel 374.20 -2.36

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results