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There was selling across the board, especially among metals, after news broke that China too had imposed import tariffs on 128 US goods.Dragged by escalating trade tensions among global economies, the Indian market on Friday witnessed a gap-down opening, with the Nifty cracking the 10,000-mark.
There was selling across the board, especially among metals, after news broke that China too had imposed import tariffs on 128 US goods.
As such, the Indian market has been on a consolidation mode since the start of the year, led by factors such as LTCG imposition, liquidity issues, rising bond yields and volatile global markets.
On Friday, the Sensex was down over 400 points, while the Nifty managed to stay breach 10,000 and was trading in the four-digit range. The Nifty metal index is down around 3 percent, led by cuts in Hindalco, Vedanta and Tata Steel.
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