In the broader markets, the S&P BSE MidCap index settled 2.4 per cent lower while the S&P BSE SmallCap index slipped 2.7 per cent on Monday.

Stock market


The benchmark indices settled lower for the fifth straight session, falling 1.5 per cent weighed by financial and automobile stocks.<br />
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The S&P BSE Sensex ended at 36,305, down 537 points. The index had hit an intraday low of 36,216.95. The broader Nifty50 index settled at 10,975, down 168 points, hitting an intraday low of&nbsp;10,943.60.<br />
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The bank stocks ended in red with Nifty Bank index slipping 2.6 per cent due to fall in share prices of RBL Bank and Punjab National Bank (PNB). The Nifty Auto index also fell 3.7 per cent due to a fall in&nbsp;Mahindra & Mahindra and&nbsp;Eicher Motors.<br />
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In the broader markets, the&nbsp;S&P BSE MidCap index settled 2.4 per cent while the&nbsp;S&P BSE SmallCap index slipped 2.7 per cent.<br />
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	Seeking to calm the nerves of worried investors, Finance Minister Arun Jaitley on Monday said that the government would take all measures to ensure adequate liquidity for non-banking financial companies (NBFCs) and mutual funds. The minister&#39;s remarks come in the wake of stock markets witnessing sudden and stiff fall in intra-day trade on Friday over concerns of a liquidity crisis being faced by some of the NBFCs.</div>
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The Reserve Bank of India (RBI) and the market regulator Securities and Exchange Board of India (SEBI) are closely monitoring developments in financial markets and are ready to take appropriate steps if needed, a central bank statement said on Sunday.<br />
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<strong>NBFCs extend fall</strong><br />
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	Shares of non-banking financial companies (NBFCs), including housing finance companies (HFCs), continued to remain under pressure for the fifth straight trading day on the bourses amid the ongoing crisis at the Infrastructure Leasing and Financial Services Ltd (IL&FS).<br />
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	Bajaj Finance, Indiabulls Housing Finance, Reliance Home Finance, Central Bank of India, Cholamandalam Investment and Finance Company and Ujjivan Financial Services were down in the range of 5 per cent to 15 per cent on the National Stock Exchange (NSE) in intra-day trade. <a href="https://www.business-standard.com/article/markets/nbfcs-extend-fall-bajaj-finance-indiabulls-housing-down-over-5-118092400232_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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<strong>Global Markets</strong><br />
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Asian shares stumbled in holiday-thinned trading on Monday as China&rsquo;s decision to cancel talks with the United States sparked fears of a protracted trade war, while oil rallied as Saudi Arabia ruled out increasing supplies to cool crude prices.<br />
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	MSCI&rsquo;s broadest index of Asia-Pacific shares outside Japan fell almost 1 per cent. Hong Kong was the worst performer with its Hang Seng index down 1.7 per cent.</div>
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	Share markets in major Asian centres Japan, China and South Korea were closed for a holiday on Monday, while currency markets were subdued as banks in those countries were shut.<br />
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	Investors were squarely focused on the Sino-US trade war as China added $60 billion of US products to its import tariff list, retaliating against US duties on $200 billion of Chinese goods that came into effect earlier on Monday.</div>
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<em>(with wire inputs)</em>

MARKET WRAP: Sensex falls 537 pts, Nifty ends at 10,975 as financials crack

Business Standard

MARKET WRAP: Sensex falls 537 pts, Nifty ends at 10,975 as financials crack | News on Markets - Business Standard

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	<strong>Short-term outlook for market remains negative: Devang Shah</strong></div>
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		Short term outlook for market remains negative till it finally confirms end of these wave-IV short term correction. It looks like either flat or triangular structure as per short term wave count chart attached in these wave-IV short term correction. <a href="https://www.business-standard.com/article/markets/short-term-outlook-for-market-remains-negative-devang-shah-118092400083_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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<strong>Oil prices rise</strong><br />
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Oil prices rose on Monday. Brent crude futures were at $79.71 per barrel at 0138 GMT, up by 91 cents, or 1.2 per cent. US West Texas Intermediate (WTI) crude futures rose by 75 cents, or 1.1 per cent, to $71.53 a barrel.

<strong>China cancels trade talks with US as tariff threats escalate: Reports</strong><br />
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China has canceled upcoming trade talks with the United States and will not send vice-premier Liu He to Washington next week, the Wall Street Journal reported, citing sources. The Wall Street Journal said a mid-level delegation was due to travel to Washington ahead of Liu&rsquo;s visit, but the trip has now been abandoned.

<strong>Nifty futures on SGX trade negative</strong><br />
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The Nifty futures of Singapore Stock Exchange (SGX) were trading 26.50 points or 0.24 per cent lower at 11,194.50.

<strong>Asian stocks</strong><br />
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Asia shares eased in holiday-thinned trading on Monday and the safe haven yen gained as China canceled upcoming tariff talks with the United States, while oil prices jumped after top producers including Russia ruled out boosting crude output. US stock futures were a touch weaker while MSCI&rsquo;s broadest index of Asia-Pacific shares outside Japan dipped 0.3 per cent. Australian shares fell 0.25 per cent and New Zealand&rsquo;s benchmark index faltered 0.6 per cent. Most of the action was in currencies as financial markets in major Asian centers Japan, China and South Korea were closed for a holiday.

<strong>US stocks end mixed on Friday</strong><br />
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Industrials led the Dow to a new closing high on Friday ahead of Monday&rsquo;s major sector reshuffle, capping a week that largely shrugged off trade worries. While the Dow closed higher, the S&amp;P 500 and the Nasdaq ended the session in negative territory. The S&amp;P and the Dow posted weekly gains, with the Dow showing its biggest weekly percentage advance in over two months. The Nasdaq lost ground on the week.

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