Markets retreat as US-China trade war jitters return

The BSE Sensex had ended at a three-month high on Monday,by surging 190.66 points or 0.55% to 35,160.36

The BSE Sensex had ended at a three-month high on Monday,by surging 190.66 points or 0.55% to 35,160.36

The key Indian equity indices traded lower on Friday afternoon noting losses in the global markets.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 35,144.96 points, traded at 35,020.85 points (9.40 a.m.) - down 82.29 points or 0.23 per cent - from its previous session's close of 35,103.14 points. Another private sector bank, Axis Bank, rose 1.5 per cent. HDFC and HDFC Bank rose over 1 per cent.

Meanwhile, on a net basis, Domestic Institutional Investors (DIIs) sold shares worth Rs 578.92 crore while Foreign Portfolio Investors (FPIs) too sold the shares to the tune of Rs 148.42 crore on Thursday, a provisional data showed.

Asian shares were subdued on Thursday ahead of anxiously-awaited China-U.S. trade talks, while the United States dollar consolidated recent bumper gains after the Federal Reserve reaffirmed the outlook for more rate hikes this year.

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The gauge later lost momentum to slip to 35,072.42 on profit-booking in recent gainers.

Top gainers included Bharti Airtel, Adani Ports, HUL, ONGC, IndusInd Bank, Dr Reddy's, HDFC Bank, Yes Bank, SBI, TCS and L&T, rising up to 2.45 per cent.

In the auto space, shares of Bajaj Auto rose 0.31 per cent after the company today reported a 26 per cent jump in total vehicle sales in April this year.

The BSE Midcap was marginally up by 0.02% and the BSE Smallcap indices were up 0.14%.

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The broader markets too reflected a bearish trend for the second day. There was hectic selling in the mid- and small-cap segment.

The US dollar weakened during what was a choppy session a day after the Federal Reserve ended a policy meeting with no change in rates and a less hawkish statement than investors had anticipated. Financial markets in Japan are closed for a four-day holiday weekend.

Among other Asian markets, Japan's Nikkei was down 0.32 per cent while Hong Kong's Hang Seng shed 0.47 per cent in early trade today.

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