Sudden Slump In Stock Markets: Sensex Falls 300 Points, Nifty Below 10150

Sensex sheds over 300 points, Nifty near 10150 amid trade war concerns

Further, investors were also cautious ahead of the Reserve Bank's monetary policy review on Thursday.

The move by the Trump administration comes two days after China imposed hurdles on 120 United States products, including fresh food and steel, retaliating against America's tariffs on steel and aluminium Not to take things lying down, the Chinese government today that it would levy additional 25% tariffs on imports of 106 U.S. products including soybeans, automobiles, chemicals and aircraft. Jagannadham Thunuguntla, SVP & head of research (wealth), Centrum Broking, said that just when the stock market was attempting to make a comeback from the bearish sentiment seen during February and March, the re-emergence of a trade war disturbed the momentum.

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade. Barring the auto index, which remained firm due to strong sales numbers from an auto giant, all other sectoral indices on the National Stock Exchange (NSE) traded in the red. It finally ended 351.56 points, or 1.05 per cent, down at 33019.07.

Market breadth was negative with 1,124 advances against 1,262 declines.

China's retaliation came after trading hours for Japan's Nikkei, which added 0.2 per cent in thin volume, while Chinese blue chips ended down 0.2 per cent.

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Detroit is 14 in rebounding with 43.9 boards per game and are average sharing the ball, ranking 19 in assists with 22.5 per night. With the easy win, Philadelphia improved to 47-30 overall which is now good for fourth place in the Eastern Conference standings.

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Investors are also likely to take cues from the central bank's policy, corporate earnings and monsoon.

Indian markets slumped on Wednesday amid a selloff in global equities following a flare-up in trade tensions between the USA and China.

The FTSE index closed up 0.05 per cent, while the DAX closed down 0.39 per cent and France's CAC 40 index fell 0.18 percent. "Additionally, traders and investors awaited the outcome of the RBI's first monetary policy meeting of the year", said Karthikraj Lakshmanan, senior fund manager-equities, BNP Paribas Mutual Fund.

In the Sensex kitty, Tata Motors Ltd, Hindustan Unilever Ltd, Adani Ports and SEZ Ltd and Hero MotoCorp Ltd were the top gainers, whereas Tata Steel Ltd, Axis Bank Ltd, Larsen and Toubro Ltd (L&T) and NTPC Ltd were among the major losers.

In the 30-share Sensex pack, only 5 stocks managed to close the day with gains.

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