Sensex, Nifty close lower after US-China trade talks draw a blank : Bulletin: Business Today
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Sensex, Nifty close lower after US-China trade talks draw a blank

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August 24, 2018

Benchmark indices closed lower in volatile trade today amid rising trade tensions between the US and China as talks between the two countries ended without any significant outcome.

While the Sensex closed 84 points lower at 38,251 level, Nifty fell 25 points to close at 11,557 level.  The Sensex had hit a high of 38,428, rising 92 points in opening session and gained 673.20 points in the past four sessions.

Brokers said besides profit-booking at record levels, a mixed trend at other Asian markets following a negative leads from Wall Street dented the trading sentiment here.

Investors were also cautious ahead of Federal Reserve Chairman Jerome Powell speech at the annual global central bank conference in Jackson Hole later in the day.

Top Sensex gainers were Vedanta (4.26%), ONGC (1.83%) and Axis Bank (1.23%).

 YES Bank (3.52%), Hero MotoCorp (2.08%) and ICICI Bank (2.02%) were top Sensex losers.

Market breadth was negative with 1177 stocks closing higher compared with 1523 stocks ending in the red on BSE.  

Domestic institutional investors (DIIs) bought shares worth a net of Rs 142 crore, while foreign portfolio investors (FPIs) accumulated shares worth a net of Rs 433.21 crore yesterday, provisional data showed.

In global markets, Asian stocks were mixed, tracking overnight losses on the Wall Street. The US Dow Jones Industrial Average ended 0.03 per cent lower in yesterday's session.


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