Tue, 16 Jul 2019

Mumbai (Maharashtra) [India], Mar 25 (ANI): Equity benchmark indices traded in red on Monday amid sharp fall in Asian and US markets as fears of weakening global economy resurfaced.

The BSE SP Sensex closed 356 points lower at 37,809 while the NSE Nifty 50 was slipped tumbled 103 points at 11,354.

While selling pressure was seen in most sectoral indices, the downturn was led by heavyweights like Reliance, ICICI Bank and HDFC Bank.

Tata Motors closed over 2 per cent down after reports that the company will increase prices of its passenger vehicles from April.

However, Jet Airways surged after Chairman Naresh Goyal decided to step down, paving way for lenders to bail out the financially troubled airline. It closed 12.7 per cent up at Rs 254.50Meanwhile, all Asian stocks were in the red amid heightened concerns over the global economy, after cautious remarks by the US Federal Reserve sent 10-year treasury yields to low levels.

The uncertainty surrounding Brexit also kept markets nervous. British Prime Minister Theresa May is trying her best to get the deal cleared by the British Parliament. (ANI)

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