Markets post second-biggest fall of 2018 on trade war, TDP no-trust vote

Samie Modak | Mumbai Last Updated at March 17, 2018 01:50 IST Tiny URL Add to My Page Print Email 4 stock, fall, sensex, down ALSO READ Trade war fear spooks markets: Sensex falls 300 points; metal stocks melt Trade war is a lose-lose situation, can push entire world into recession Global trade war: India's export promotion schemes challenged by US at WTO Trump slaps tariffs, rattles Indian metal firms; JSW asks govt to retaliate Tata stocks may take a beating over Donald Trump's protectionism talk The benchmark Nifty on Friday posted its second-worst single-day fall of 2018 due to global and domestic political concerns. The escalation of the war of words between the US and China, the world’s two largest economies, sparked fears of a global trade war. This, coupled with a no-confidence notice against the Narendra Modi-led government, weighed on investor sentiment. US President Donald Trump’s new adviser sought a “coalition” of allies to act against China and the latter hit back, saying the US should “work hard and complain less”. The escalation forced International Monetary Fund (IMF) Managing Director Christine Lagarde to urge the two nations to not be sucked into a global trade war. This resulted in most Asian markets ending with losses. India was one of the worst-performing markets globally on Friday. The Nifty 50 index ended 1.6 per cent lower to close at 10,195.15, the biggest fall since February 2, while the Sensex closed at 33,176, down 510 points or 1.51 per cent, the most since February 6. Shares of companies in export-oriented sectors such as automobiles, pharmaceuticals, technology and oil bore the brunt of this. Tata Motors fell 3.7 per cent, the most among Sensex components, followed by Asian Paints, which fell 3.1 per cent. All 19 BSE sectoral indices ended with losses; the metal and oil & gas indices were the worst performers, falling over 2 per cent each. Major metal company stocks fell around 2 per cent each. graph “The market slid on investors’ caution amid uncertainties around global trade and domestic politics. Volatility in global markets brought the benchmark indices towards their 200-day moving averages,” said Vinod Nair, head of research, Geojit Financial Services. Domestic and foreign investors were net sellers on Friday. Domestic institutional investors (DIIs) sold shares worth Rs 7.7 billion, while their foreign counterparts sold shares worth Rs 1.5 billion. Market participants fear the bourses could trade weak as investors may pull money out from the secondary market to invest in a slew of initial public offerings (IPOs) lined up over the next two weeks. At least half-a-dozen IPOs will be launched before March 31. These IPOs are likely to cumulatively mop up over Rs 130 billion ($2 billion). “Our markets are underperforming due to a combination of factors such as a big IPO pipeline, an uncertain political scenario and risk to earnings growth next year. The pressure is visible across sectors such as banking, automobiles and energy. We expect the markets to remain soft,” said Hemang Jani, head (advisory), Sharekhan. Both benchmark indices have come off over 8 per cent from their 2018 highs. On a year-to-date basis, the Nifty is down 3.2 per cent while the Sensex has fallen 2.6 per cent. First Published: Sat, March 17 2018. 01:33 IST READ MORE ON TRADE WAR NIFTY US CHINA TRADE WAR N CHANDRABABU NAIDU YSR TDP SENSEX STOCK MARKET NIFTY 50 INDEX GLOBAL TRADE WAR DONALD TRUMP ANDHRA PRADESH NARENDRA MODI BJP LOK SABHA ANDHRA PRADESH NEWS TDP QUITS NDA TDP BJP ALLIANCE ANDHRA SPECIAL STATUS YSRC JAGAN MOHAN REDDY BHARATIYA JANATA PARTY INITIAL PUBLIC OFFERINGS IPOS SENSEX AND NIFTY MARKETS NEWS PREVIOUS STORY NEXT STORY Who will buy the Rs 4.6 trillion bonds? Market bets on banks' return Equity dilution concerns may weigh on JSPL; earnings prospects remain firm Blockchain can help combat cybersecurity-related risks: Microsoft XinFin ties up with KoinOK.com, gets its Utility Token XDCE listed on One of India's top exchange Unique crypto currency exchange operating in India Bandhan Bank IPO subscribed 88% on second day of three-day bidding Hindustan Aeronautics Rs 42.3-bn IPO subscribed 24% on first day of bidding Indian crypto exchanges go slow on Bitcoin, raise bets on other currencies HDFC MF eyes premium for its IPO, seeks valuation twice that of Reliance MF Bitcoin's 'death cross' looms as strategist eyes $2,800 level RECOMMENDED FOR YOU Advertisements Get 12 months FREE CIBIL report with Personal Loan Business Standard book for IBPS: 3000 GK Questions: GST, Budget 2017, Demonetisation Get 12 months FREE CIBIL report with Personal Loan Business Standard Premium - Access best of our content across devices You Might Also Like Hindustan Aeronautics Rs 42.3-bn IPO subscribed 24% on first day of bidding Hindustan Aeronautics Rs 42.3-bn IPO subscribed 24% on first day of bidding 25 students trapped in TN forest fire; 12 rescued so far 25 students trapped in TN forest fire; 12 rescued so far Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi Why are all key players in PNB fraud from only Gujarat, asks Chidambaram Why are all key players in PNB fraud from only Gujarat, asks Chidambaram HDFC MF eyes premium for its IPO, seeks valuation twice that of Reliance MF HDFC MF eyes premium for its IPO, seeks valuation twice that of Reliance MF News digest: TDP exits NDA, Anti-ageing market, electoral bonds, and more News digest: TDP exits NDA, Anti-ageing market, electoral bonds, and more Promoted Stories Only someone with a high IQ can answer all of these science questions Only someone with a high IQ can answer all of these science questions offbeat.topix All-New S-Cross | Comes power-packed with a new design consisting of macho looking exteriors, premium all-black interiors and a Smart Hybrid engine. All-New S-Cross | Comes power-packed with a new design consisting of macho looking exteriors, premium all-black interiors and a Smart Hybrid engine. The Nexa Experience #FeelLikeGod on the All-New Avenger Street 180 #FeelLikeGod on the All-New Avenger Street 180 Bajaj Auto Luxuriant living with 2/3Bhk AC homes starting @67 lacs* in Pune Luxuriant living with 2/3Bhk AC homes starting @67 lacs* in Pune SP Residency 3 by Shapoorji Pallonji Setup Your Account - PayPal India Setup Your Account - PayPal India PayPal How To Reduce Your Risk In The Stock Market? How To Reduce Your Risk In The Stock Market? marketsmithindia.com Recommended by LIVE MARKET BSE 33176.00 -509.54 (-1.51 %) NSE 10195.15 -165.00 (-1.59 %) STOCK WATCH TOP GAINERS TOP LOSERS BSE NSE COMPANY PRICE() CHG(%) JP ASSOCIATES 20.90 9.14 SINTEX INDS. 20.30 8.85 MMTC 67.25 8.29 NAVNEET EDUCAT. 148.55 7.37 VAKRANGEE 248.15 4.73 > More on BSE Gainers LATEST NEWS IN THIS SECTION ALL Sugar Sugar bears come out to play as India, Thailand post record harvests foreign portfolio investments, bond market,FPIs,Nomura , credit growth,liquidity,First Rand Bank,Reserve Bank of India , RBI,Commercial banks Who will buy the Rs 4.6 trillion bonds? Market bets on banks' return JSPL Premium Content Equity dilution concerns may weigh on JSPL; earnings prospects remain firm stock, fall, sensex, down Markets post second-biggest fall of 2018 on trade war, TDP no-trust vote More > MOST POPULAR READ SHARE COMMENTED shell firms, blackmoney, panama, cbi, ED, tax havens, shell companies India Inc's subsidiaries in tax havens under probe agencies' scanner Spotify to launch music streaming service in India to stay ahead of Apple Spotify to launch music streaming service in India to stay ahead of Apple Singapore Airlines Investment in Vistara has been positive for us: Singapore Airlines Vijay Mallya (left) and Nirav Modi ED to hand over Nirav Modi, Vijay Mallya properties to NBCC DERIVATIVES INDEX STOCK INDEX INSTRUMENT TYPE EXPIRY DATE OPTION TYPE STRIKE PRICE Samie Modak | Mumbai Last Updated at March 17, 2018 01:50 IST Tiny URL Add to My Page Print Email 4 stock, fall, sensex, down ALSO READ Trade war fear spooks markets: Sensex falls 300 points; metal stocks melt Trade war is a lose-lose situation, can push entire world into recession Global trade war: India's export promotion schemes challenged by US at WTO Trump slaps tariffs, rattles Indian metal firms; JSW asks govt to retaliate Tata stocks may take a beating over Donald Trump's protectionism talk The benchmark Nifty on Friday posted its second-worst single-day fall of 2018 due to global and domestic political concerns. The escalation of the war of words between the US and China, the world’s two largest economies, sparked fears of a global trade war. This, coupled with a no-confidence notice against the Narendra Modi-led government, weighed on investor sentiment. US President Donald Trump’s new adviser sought a “coalition” of allies to act against China and the latter hit back, saying the US should “work hard and complain less”. The escalation forced International Monetary Fund (IMF) Managing Director Christine Lagarde to urge the two nations to not be sucked into a global trade war. This resulted in most Asian markets ending with losses. India was one of the worst-performing markets globally on Friday. The Nifty 50 index ended 1.6 per cent lower to close at 10,195.15, the biggest fall since February 2, while the Sensex closed at 33,176, down 510 points or 1.51 per cent, the most since February 6. Shares of companies in export-oriented sectors such as automobiles, pharmaceuticals, technology and oil bore the brunt of this. Tata Motors fell 3.7 per cent, the most among Sensex components, followed by Asian Paints, which fell 3.1 per cent. All 19 BSE sectoral indices ended with losses; the metal and oil & gas indices were the worst performers, falling over 2 per cent each. Major metal company stocks fell around 2 per cent each. graph “The market slid on investors’ caution amid uncertainties around global trade and domestic politics. Volatility in global markets brought the benchmark indices towards their 200-day moving averages,” said Vinod Nair, head of research, Geojit Financial Services. Domestic and foreign investors were net sellers on Friday. Domestic institutional investors (DIIs) sold shares worth Rs 7.7 billion, while their foreign counterparts sold shares worth Rs 1.5 billion. Market participants fear the bourses could trade weak as investors may pull money out from the secondary market to invest in a slew of initial public offerings (IPOs) lined up over the next two weeks. At least half-a-dozen IPOs will be launched before March 31. These IPOs are likely to cumulatively mop up over Rs 130 billion ($2 billion). “Our markets are underperforming due to a combination of factors such as a big IPO pipeline, an uncertain political scenario and risk to earnings growth next year. The pressure is visible across sectors such as banking, automobiles and energy. We expect the markets to remain soft,” said Hemang Jani, head (advisory), Sharekhan. Both benchmark indices have come off over 8 per cent from their 2018 highs. On a year-to-date basis, the Nifty is down 3.2 per cent while the Sensex has fallen 2.6 per cent. First Published: Sat, March 17 2018. 01:33 IST READ MORE ON TRADE WAR NIFTY US CHINA TRADE WAR N CHANDRABABU NAIDU YSR TDP SENSEX STOCK MARKET NIFTY 50 INDEX GLOBAL TRADE WAR DONALD TRUMP ANDHRA PRADESH NARENDRA MODI BJP LOK SABHA ANDHRA PRADESH NEWS TDP QUITS NDA TDP BJP ALLIANCE ANDHRA SPECIAL STATUS YSRC JAGAN MOHAN REDDY BHARATIYA JANATA PARTY INITIAL PUBLIC OFFERINGS IPOS SENSEX AND NIFTY MARKETS NEWS PREVIOUS STORY NEXT STORY Who will buy the Rs 4.6 trillion bonds? Market bets on banks' return Equity dilution concerns may weigh on JSPL; earnings prospects remain firm Blockchain can help combat cybersecurity-related risks: Microsoft XinFin ties up with KoinOK.com, gets its Utility Token XDCE listed on One of India's top exchange Unique crypto currency exchange operating in India Bandhan Bank IPO subscribed 88% on second day of three-day bidding Hindustan Aeronautics Rs 42.3-bn IPO subscribed 24% on first day of bidding Indian crypto exchanges go slow on Bitcoin, raise bets on other currencies HDFC MF eyes premium for its IPO, seeks valuation twice that of Reliance MF Bitcoin's 'death cross' looms as strategist eyes $2,800 level RECOMMENDED FOR YOU Advertisements Get 12 months FREE CIBIL report with Personal Loan Business Standard book for IBPS: 3000 GK Questions: GST, Budget 2017, Demonetisation Get 12 months FREE CIBIL report with Personal Loan Business Standard Premium - Access best of our content across devices You Might Also Like Hindustan Aeronautics Rs 42.3-bn IPO subscribed 24% on first day of bidding Hindustan Aeronautics Rs 42.3-bn IPO subscribed 24% on first day of bidding 25 students trapped in TN forest fire; 12 rescued so far 25 students trapped in TN forest fire; 12 rescued so far Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi Arun Jaitley silent on PNB fraud to protect daughter, says Rahul Gandhi Why are all key players in PNB fraud from only Gujarat, asks Chidambaram Why are all key players in PNB fraud from only Gujarat, asks Chidambaram HDFC MF eyes premium for its IPO, seeks valuation twice that of Reliance MF HDFC MF eyes premium for its IPO, seeks valuation twice that of Reliance MF News digest: TDP exits NDA, Anti-ageing market, electoral bonds, and more News digest: TDP exits NDA, Anti-ageing market, electoral bonds, and more Promoted Stories Only someone with a high IQ can answer all of these science questions Only someone with a high IQ can answer all of these science questions offbeat.topix All-New S-Cross | Comes power-packed with a new design consisting of macho looking exteriors, premium all-black interiors and a Smart Hybrid engine. All-New S-Cross | Comes power-packed with a new design consisting of macho looking exteriors, premium all-black interiors and a Smart Hybrid engine. The Nexa Experience #FeelLikeGod on the All-New Avenger Street 180 #FeelLikeGod on the All-New Avenger Street 180 Bajaj Auto Luxuriant living with 2/3Bhk AC homes starting @67 lacs* in Pune Luxuriant living with 2/3Bhk AC homes starting @67 lacs* in Pune SP Residency 3 by Shapoorji Pallonji Setup Your Account - PayPal India Setup Your Account - PayPal India PayPal How To Reduce Your Risk In The Stock Market? How To Reduce Your Risk In The Stock Market? marketsmithindia.com Recommended by LIVE MARKET BSE 33176.00 -509.54 (-1.51 %) NSE 10195.15 -165.00 (-1.59 %) STOCK WATCH TOP GAINERS TOP LOSERS BSE NSE COMPANY PRICE() CHG(%) JP ASSOCIATES 20.90 9.14 SINTEX INDS. 20.30 8.85 MMTC 67.25 8.29 NAVNEET EDUCAT. 148.55 7.37 VAKRANGEE 248.15 4.73 > More on BSE Gainers LATEST NEWS IN THIS SECTION ALL Sugar Sugar bears come out to play as India, Thailand post record harvests foreign portfolio investments, bond market,FPIs,Nomura , credit growth,liquidity,First Rand Bank,Reserve Bank of India , RBI,Commercial banks Who will buy the Rs 4.6 trillion bonds? Market bets on banks' return JSPL Premium Content Equity dilution concerns may weigh on JSPL; earnings prospects remain firm stock, fall, sensex, down Markets post second-biggest fall of 2018 on trade war, TDP no-trust vote More > MOST POPULAR READ SHARE COMMENTED shell firms, blackmoney, panama, cbi, ED, tax havens, shell companies India Inc's subsidiaries in tax havens under probe agencies' scanner Spotify to launch music streaming service in India to stay ahead of Apple Spotify to launch music streaming service in India to stay ahead of Apple Singapore Airlines Investment in Vistara has been positive for us: Singapore Airlines Vijay Mallya (left) and Nirav Modi ED to hand over Nirav Modi, Vijay Mallya properties to NBCC DERIVATIVES INDEX STOCK INDEX INSTRUMENT TYPE EXPIRY DATE OPTION TYPE STRIKE PRICE Tata Motors fell 3.7%, the most among Sensex components, followed by Asian Paints which fell 3.1%

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, November 9, 2016. REUTERS/Danish Siddiqui/Files
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The benchmark Nifty on Friday posted its second-worst single-day fall of 2018 due to global and domestic political concerns.The escalation of the war of words between the US and China, the world’s two largest economies, sparked fears of a global trade war. This, coupled with a no-confidence notice against the Narendra Modi-led government, weighed on investor sentiment.US President Donald Trump’s new adviser sought a “coalition” of allies to act against China and the latter hit back, saying the US should “work hard and complain less”. The escalation forced International Monetary Fund (IMF) Managing Director Christine Lagarde to urge the two nations to not be sucked into a global trade war. This resulted in most Asian markets ending with losses. India was one of the worst-performing markets globally on Friday.The Nifty 50 index ended 1.6 per cent lower to close at 10,195.15, the biggest fall since February 2, while the Sensex closed at 33,176, down 510 points or 1.51 per cent, the most since February 6. Shares of companies in export-oriented sectors such as automobiles, pharmaceuticals, technology and oil bore the brunt of this.Tata Motors fell 3.7 per cent, the most among Sensex components, followed by Asian Paints, which fell 3.1 per cent. All 19 BSE sectoral indices ended with losses; the metal and oil & gas indices were the worst performers, falling over 2 per cent each. Major metal company stocks fell around 2 per cent each.graph“The market slid on investors’ caution amid uncertainties around global trade and domestic politics.

Volatility in global markets brought the benchmark indices towards their 200-day moving averages,” said Vinod Nair, head of research, Geojit Financial Services.Domestic and foreign investors were net sellers on Friday. Domestic institutional investors (DIIs) sold shares worth Rs 7.7 billion, while their foreign counterparts sold shares worth Rs 1.5 billion.Market participants fear the bourses could trade weak as investors may pull money out from the secondary market to invest in a slew of initial public offerings (IPOs) lined up over the next two weeks. At least half-a-dozen IPOs will be launched before March 31. These IPOs are likely to cumulatively mop up over Rs 130 billion ($2 billion).“Our markets are underperforming due to a combination of factors such as a big IPO pipeline, an uncertain political scenario and risk to earnings growth next year. The pressure is visible across sectors such as banking, automobiles and energy. We expect the markets to remain soft,” said Hemang Jani, head (advisory), Sharekhan.Both benchmark indices have come off over 8 per cent from their 2018 highs. On a year-to-date basis, the Nifty is down 3.2 per cent while the Sensex has fallen 2.6 per cent.

Source business-standard.com
Via business-standard.com

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