markets

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	Benchmark indices slipped on Monday, dented by losses across sectors, after India slapped higher tariffs on certain US products in retaliation to Washington&rsquo;s decision to remove certain trade privileges for New Delhi.</div>
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	The government, after dragging its feet for almost a year, decided to increase tariffs on 29 high-value US agricultural and industrial imports by up to 50 per cent. <a href="https://www.business-standard.com/article/economy-policy/india-responds-to-trump-moves-at-last-with-tariff-hikes-on-29-us-products-119061500097_1.html?1560765834" target="_blank"><em><strong>READ THE FULL REPORT HERE</strong></em></a></div>
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	The investor sentiment was further dampened by investor concerns over patchy monsoon and&nbsp;the government&rsquo;s ability to bolster a slowing economy.<br />
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	The benchmark S&P BSE Sensex ended the day 491 points, or 1.25 per cent, lower at&nbsp;38,961, with Tata Steel, Tata Motors, ONGC, Vedanta, and Sun Pharma topping the list of losers. Only YES Bank, Coal India, and Infosys out of the 30 BSE constituents ended the session in the green.<br />
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	The broader Nifty50 index dipped 151 points, or 1.28 per cent, to 11,672.&nbsp;About 685 shares on the NSE advanced, 1,847 declined, and 126 shares remained unchanged.<br />
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	All the Nifty sectoral indices closed Monday&#39;s session with losses, with Nifty Metal, down 2.87 per cent, and Nifty Auto, down 1.69 per cent, taking the deepest cuts. Moreover, Nifty Bank, Nifty Fin Service, Nifty Pharma, Nifty PSU Bank, and Nifty Private Bank, all dipped over 1 per cent.<br />
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	In the broader market, the S&P BSE MidCap index settled at&nbsp;14,531, down 190 points, or 1.29 per cent, while the S&P BSE Smallcap index skidded 193 points, or 1.35 per cent, to&nbsp;14,173.<br />
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<strong>BUZZING STOCKS</strong><br />
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Shares of Reliance Infrastructure (RInfra) hit an over 28-year low of Rs 52.70, down 10 per cent on the BSE on Monday in the early morning trade after the auditors raised questions about the company&rsquo;s ability to continue in business. The stock ended the day 4.72 per cent lower at Rs 56.50.&nbsp;<strong><a href="https://www.business-standard.com/article/markets/reliance-infra-hits-over-28-year-low-as-auditors-raised-concern-over-biz-119061700144_1.html?1560747347" target="_blank">READ MORE</a></strong><br />
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Shriram Transport Finance Company shares dipped 6.54 per cent to Rs 1,014 on the National Stock Exchange (NSE) on Monday after Piramal Enterprises sold its entire 9.96 per cent stake in the company through open market. <strong><a href="https://www.business-standard.com/article/markets/shriram-transport-slides-7-8-after-piramal-sells-entire-stake-119061700172_1.html?1560748312" target="_blank">READ MORE</a></strong><br />
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Shares of New Delhi Television (NDTV) skid 8 per cent to Rs 32.10 during the early morning trade on the BSE on Monday, after markets regulator the Securities and Exchange Board of India (Sebi) banned the group chairman Prannoy Roy and director Radhika Roy from assessing the capital market for two years. However, the stock settled for the day at Rs 35, 0.57 per cent higher.&nbsp;<a href="https://www.business-standard.com/article/markets/ndtv-tanks-8-after-sebi-bars-prannoy-radhika-roy-from-securities-market-119061700173_1.html?1560749134" target="_blank"><strong>READ MORE</strong></a>

MARKET WRAP: Sensex tanks 491 pts, ends below 39k at 1-month closing low

Business Standard

MARKET WRAP: Sensex tanks 491 pts, ends below 39k at 1-month closing low | News on Markets - Business Standard

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Nifty PSU Bank index is trading over 1 per cent lower

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Market check | Sensex is trading at 39,103 levels, down 349 points

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NEWS ALERT | Berger Paints' Dhirendra Swarup resigns as independent director: CNBC TV18

NEWS ALERT | ICICI Bank moves NCLAT against JP Associates' case: CNBC TV18

- Seeks expedition of case&nbsp;<br />
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- NCLAT to hear plea on July 1

NEWS ALERT | ICICI Bank asks NCLAT to fast-track JP Associates' case: CNBC TV18

- Says, case pending at Allahabad NCLT bench for 9 months<br />
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- Case being played into promoters hand&nbsp;<br />
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- Accuses company of creating legal hurdles, delaying IBC process&nbsp;

NEWS ALERT | Govt estimates spending Rs 2,500-5,000 cr for MSP for Kharif crops: govt sources to ET Now

NEWS ALERT | New MSP for Kharif crops to remain 50% over the cost of production: sources to ET Now

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MARKET COMMENT | Kotak Securities on WPI inflation print

WPI inflation continues to decline. Decline in WPI inflation in May was driven by moderation in core and fuel inflation even as food prices continued to inch higher. With growth and CPI inflation expected to remain benign in the near term, we continue to believe that the MPC would cut the repo rate by 25 bps in August. Further cuts would hinge on how the growth and inflation mix evolves. As per our base case, upside risks to food inflation in 2HFY20 could limit rate cuts beyond August.

NEWS ALERT |  Two operational creditors have already moved NCLT: BTVi

Alert : NCLT Mumbai to hear operational creditor plea on June 20

NEWS ALERT | NIIF, Mubadala unwilling to buy Jet Airways' stake at Rs 150/Sh: sources to BTVi

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	- Steep haircut likely key reason for lenders deciding to send Jet Airways To NCLT</div>
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	- Lenders unwilling to sell stake at current share price</div>

NEWS ALERT | ICICI Bank cuts some retail term deposit rates by 10-25 bps: Cogencies

Market check | Broader markets underperform, slip over 1%

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