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Indices Drag Sharply, Sensex Down 500 Points On Unabated Sell Off

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Indian indices tracking weak global and domestic cues as well as sustained outflow by foreign funds has yet again slipped sharply. At the opening, Sensex was dragged lower by 500 points while Nifty opened below 10,850.

Indices Drag Sharply, Sensex Down 500 Points On Unabated Sell Off
 

HDFC, TCS, NTPC, HCL Tech are some of the major gainers on the indices, while losers include ICICI Bank, Axis Bank, Britannia, Bajaj Finance, Hero Motocorp, DHFL, Equitas Holding, LIC Housing, Union Bank of India and Indiabulls Housing.

Nifty PSU Bank index was dragged the most led by losses in SBI which is trading down by over 4%.

TCS, Infosys gained over 1% due to strength in the dollar.

Metal stocks declined owing to the fresh round of escalation in the US-China trade war which was triggered after the US on Thursday announced to impose an additional tariff of 10% on Chinese imports worth $300 billion.

The US markets also ended sharply lower and other Asian markets also are dragged lower due to heavy global sell-off. Hang Seng has been the worst hit which lost nearly 800 points in trade.

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