Market trades weak as US-China trade tensions escalate.
The market continues to trade weak towards the second half of the session on Tuesday amid the US-China trade tensions. The BSE Sensex is trading at 35,370 points, losing close to 200 points, while the NSE Nifty is trading at 10,737 points, losing 70 points.
Trump warned on Monday that Washington would impose a 10 percent tariff on $200 billion of Chinese goods after Beijing's decision to raise tariffs on $50 billion in US goods, which was in retaliation for US tariffs announced on Friday. GAIL, Dr Reddy's Labs, Lupin, Bajaj Finance and Bharti Airtel are the top index gainers of the hour. The pharma stocks continue to rally after a minor setback in the rally on Monday.
HPCL, BPCL, Vedanta, Infosys and Grasim are the top index losers towards the second half of the session. The oil marketing companies are losing in trade, reversing the gains from Monday's trade session.