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Markets dip amid fears of global slowdown, mirror weak Asian stocks

Staff reporter, New Delhi
08/03/2019   0 Comments

Equity benchmark indices opened lower on Friday amid fears of a slowing global economy and slight fall in crude oil prices. A day earlier, European Central Bank President Mario Draghi said the economy is in a period of continued weakness and pervasive uncertainty. At 11:15 am, the BSE S&P Sensex tumbled 62 points to 36,664 while the NSE Nifty 50 fell 31 points to 11,028. Shares of Wipro dropped nearly 4 per cent on the Bombay Stock Exchange. Indian Oil, HCL Tech and Hindalco also traded lower on selling pressure.

However, NTPC, Indiabulls Housing Finance, Bharti Infratel and Eicher traded higher. The most active stocks were Wipro, Indiabulls Housing Finance, Infosys and Reliance Industries on the National Stock Exchange. Meanwhile, Asian stock markets were shaky after witnessing declines in the United States. The mood got gloomy further after weak export data from China heightened fears among investors. China's February exports fell 20.7 per cent from a year earlier.

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