Selloff in Asian markets, a weaker rupee, a possible dissatisfaction of investors to rupee’s measures by the government pulled the indices lower.
The S&P BSE Sensex slipped below its crucial support placed at 38,000 while the Nifty plunged below 11,400 on Monday, tracking muted trend seen in other Asian markets.The Sensex fell over 500 points while Nifty saw a cut of over 100 points.
A flat close on Wall Street and a muted trend seen in other Asian markets hinted at a weak opening for Indian markets. Wall Street ended mixed amid news of trade wars.
Most Asian share markets slid amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.For more, watch the Markets@Moneycontrol show as Moneycontrol Research analyst Shishir Asthana talks to Anchal Pathak about what moved the markets today.