Key equity indices were hovering in negative terrain in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 37.95 points or 0.10% at 37,547.56. The Nifty 50 index was down 7.65 points or 0.07% at 11,370.10. Sentiment was fragile as US-China trade tensions took a renewed toll on investor appetite for risky assets.
Among secondary barometers, the BSE Mid-Cap index was down 0.02%. The BSE Small-Cap index was down 0.10%.
The market breadth, indicating the overall health of the market, was almost even. On BSE, 1035 shares rose and 1001 shares fell. A total of 111 shares were unchanged.
Most FMCG shares rose on defensive buying. Dabur India (up 3.16%), Hindustan Unilever (up 3.15%), Godrej Consumer Products (up 2.71%), Nestle India (up 2.36%), Jyothy Laboratories (up 2.21%), Marico (up 2.07%), Colgate Palmolive (India) (up 1.77%), Britannia Industries (up 1.52%), GlaxoSmithKline Consumer Healthcare (up 1.20%) and Bajaj Corp (up 1.15%), edged higher. Tata Global Beverages (down 0.17%) and Procter & Gamble Hygiene & Health Care (down 0.37%), edged lower.
Metal shares were mixed. Hindustan Copper (up 2.89%), Tata Steel (up 0.54%), JSW Steel (up 0.44%), National Aluminium Company (up 0.43%), Jindal Steel & Power (up 0.17%) and Hindustan Zinc (up 0.07%), edged higher. Steel Authority of India (down 0.45%), NMDC (down 0.54%), Hindalco Industries (down 1.32%) and Vedanta (down 1.73%), edged lower.
Overseas, most Asia markets declined on Tuesday following an escalation in trade tensions between the United States and China. US stocks closed lower Monday, with the S&P 500 and the Dow snapping multi-day win streaks.
More From This Section
President Donald Trump will impose 10% tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25% 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.
The US has already levied tariffs on $50 billion worth of Chinese products. Beijing responded with measures targeting $50 billion on American goods, raising fears about damage to the US farm industry. Earlier this month, reports suggested that the US was seeking to restart trade talks with China.
Meanwhile in the US, the New York Fed's Empire State index fell 7 points to 19 in September.
Powered by Capital Market - Live News