Stock Market: Sensex and Nifty lose over 100 and 40 points respectively

Amid negative global cues, the Indian stock market on Tuesday began its business on a lower note. In the first few minutes of trade, Sensex traded at 33,958.57, down 108.83 points or 0.32 percent. The broader Nifty traded at 10,208.45, with a loss of 42.40 points or 0.41 percent.

Notably, the Sensex opened at 34,068.92 against its previous close of 34,067.40. The broader Nifty began its business at 10,239.40 as compared to the last close of 10,250.85. Also, the Indian rupee opened lower at 73.49 per dollar against yesterday’s close of 73.45.

According to a report by Reuters, in global markets, MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.3 percent. China shares fell 0.6 percent in early trade while Japan’s Nikkei average rose 0.7 percent, clawing back earlier losses in a volatile session.

In overnight trade, US stocks fell, with the benchmark S&P 500 index ending close to confirming its second correction of 2018, hurt by fresh worries about US-China trade policy tensions and a sharp drop in the big technology and internet shares.

The Dow Jones Industrial Average fell 245.39 points, or 0.99 percent, to 24,442.92, the S&P 500 lost 17.44 points, or 0.66 percent, to 2,641.25 and the Nasdaq Composite dropped 116.92 points, or 1.63 percent, to 7,050.29.

As per the provisional NSE data, on Monday, foreign portfolio investors sold while domestic institutional investors purchased net equities of Rs. 2,230.79 crore and Rs. 2,526.9 crore respectively.

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