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CNBCTV18 Opening Bell: Sensex, Nifty start flat on slowdown, trade war worries; metal, consumer shares fall

CNBCTV18 Opening Bell: Sensex, Nifty start flat on slowdown, trade war worries; metal, consumer shares fall

CNBCTV18 Opening Bell: Sensex, Nifty start flat on slowdown, trade war worries; metal, consumer shares fall
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By CNBC-TV18 Aug 28, 2019 9:57:54 AM IST (Published)

The BSE Sensex slipped over 42 points, or 0.11 percent, to 37,599 in the initial trade.

Indian shares started on a subdued note amid renewed concerns over global slowdown and persisting uncertainty with regards to the US-China trade talks. Trade sentiment turned cautious as investors awaited more cues from the government on measures to boost the economy.

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The Union Cabinet in its meeting on Wednesday would take up proposals to relax foreign direct investment (FDI) in various sectors, including single-brand retail and digital media, as announced by finance minister Nirmala Sitharaman in her maiden budget last month.
The BSE Sensex slipped over 42 points, or 0.11 percent, to 37,599 in the initial trade. The NSE Nifty50 also declined by nearly 15 points, or 0.13 percent, to 11,090.50. The Nifty MidCap index was flat in the green.
The banking gauge, Nifty Bank, declined 0.31 percent. Among top Nifty gainers, UPL, PowerGrid, Dr Reddy's Labs, M&M and Infosys, rose by up to 1.71 percent.
Coal India, Indiabulls Housing Finance, Hindustan Unilever, Vedanta and Tata Steel were top Nifty losers in early trade, declining between 1 and 2 percent.
Shares of fast-moving consumer goods companies fell after reports said the National Anti-Profiteering Authority had issued show-cause notices to Hindustan Unilever, Procter & Gamble Hygiene & Healthcare, and Nestle India, among others.
Meanwhile, the Indian rupee opened lower at 71.52 against the US dollar on Wednesday. The home currency had closed at Rs 71.48 against the greenback on Tuesday.
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