Business

Volatility continues in stocks markets, Nifty hovers below 11,200

ANI | May 14, 2019 10:34 AM
Jet Airways slipped over 11 pc after its CFO's resignation

Mumbai (Maharashtra) [India], May 14 (ANI): Equity benchmark indices slipped into the negative zone during morning trade on Tuesday following subdues in Asian markets.

Sectoral indices at the National Stock Exchange were mixed with banking, pharma and metal trading in the green. But auto, FMCG, IT and realty were in the red.

At 10:15 am, the BSE S&P Sensex was down 42 points at 37,049 while the Nifty 50 slipped 19 points to 11,129.

Jet Airways slipped further to Rs 123.70 per share, down over 11 per cent, after its Deputy Chief Executive and Chief Financial Officer Amit Agarwal resigned.

Tech Mahindra, HCL Tech, HDFC, Tata Steel and Zee Entertainment were among other prominent losers. However, Sun Pharma, Vedanta, Adani Ports, ICICI Bank and Yes Bank showed marginal gains.

Meanwhile, Asian shares deepened losses with deterioration in US-China trade tariff war.

On Monday, China said it would impose higher tariffs on 60 billion dollars worth of US goods following Washington's decision last week to hike its levies on 200 billion dollars in Chinese imports.

Still, US President Donald Trump's statement that he expected trade negotiations to be successful helped stabilise the market sentiment. (ANI)

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