Markets Close: Sensex, Nifty Log Worst Week in Almost 3 Months
Indian equity benchmarks have registered their worst week since 12 May on Friday, 2 August, with the S&P BSE Sensex declining around 2 percent this week to end at 37,118.01 and the NSE Nifty 50 ending at 10,997.35, down 2.5 percent.
The broader market represented by the NSE Nifty 500 Index closed 2.7 percent lower.
Earlier in the day, Sensex had fallen over 300 points in line with global market sell-offs as investors panicked after the US decision to impose fresh tariffs on Chinese goods.
The trade war tensions between the US and China along with unabated foreign fund outflows weighed heavily on the market sentiments, traders had said.
Tracking tepid global market trend, the 30-share index had been trading 333.32 points lower at 36,685.00. Similarly, the 50-share Nifty had slipped 105.15 points to 10,874.85.
US President Donald Trump's decision to impose new tariffs on Chinese goods triggered fresh tension among investors over the trade battle between the two largest economies.
Trump on Thursday had announced that the US will impose a 10 percent levy on $300 billion in Chinese goods. The new tariffs are expected to go into effect from 1 September.
(With inputs from BloombergQuint and PTI)
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