Sensex, Nifty Trade Commences At Lower Note (Photo Credit: File Photo)
Amid growing concerns over the US-China trade war, domestic stock markets on Monday started on a lower note. In the early trade, domestic equity benchmark BSE Sensex dropped as much as 130.8 points to hit 40,192.81, and the broader NSE Nifty benchmark dropped to as low as 11,864.50, down 43.65 points from the previous close.
According to a report of NDTV, the domestic stock market did recover early losses to briefly trade in the positive territory, with the Sensex climbing to as high as 40,385.61 - up 62 points from the previous close - and the Nifty returning above the 11,900-mark, but failed to sustain those gains.
The shares of Bank of Baroda, which announced earnings after market hours on Friday, rose 3 per cent. On the other hand, gains in banking stocks - especially state-run lenders - were offset by losses in information technology and pharma shares. ICICI Bank was down about 1 per cent while Sun Pharma fell about 3 per cent. Other top losers in the Sensex pack included L&T, Bajaj Auto, Hero MotoCorp, Asian Paints and Maruti Suzuki, down between 0.5 per cent and 1 per cent.
It is to be noted that on Friday, the Sensex had ended 330.13 points - or 0.81 per cent - lower at 40,323.61 and the Nifty settled at 11,908.15, down 103.90 points - or 0.86 per cent - from the previous close.