Business

Trade war, Q3 earning keep Sensex, Nifty in a tight range

Agency | January 08, 2019 02:26 PM

MUMBAI: Caution ahead of the outcome of ongoing US-China trade talks and Q3 corporate earning session kept the major indices in a short range on Tuesday. Sensex and Nifty logged marginal gains during the afternoon session.

The US-China trade talks assume special significance as analysts say both sides face a resumption of tariffs in March if they don't strike a deal. The two economic giants agreed on a 90-day trade truce in early December.

Also, Q3 corporate earning session starting this week kept the investors from taking position.

On the domestic front, RBI Governor Shaktikanta Das will meet representatives of Non Banking Financial Companies (NBFC) on Tuesday pushing the banking stocks 0.82 per cent higher.

In contrast, consumer durable and power sectors traded lower but the finance stocks managed to stay in the green.

At 1.55 p.m., the Nifty50 traded at 10,787.40, higher by 15.60 points or 0.14 per cent from the previous close of 10,771.80.

The S&P BSE Sensex, which had opened at 35,964.62, traded at 35,914.38, higher by 64.22 points or 0.18 per cent from its previous close of 35,850.16.

So far, it has touched an intra-day high of 35,968.08 and a low of 35,753.95.

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