NIFTY50 and SENSEX trade lower; Railway, Oil & gas and metals stocks among top laggards

Domestic equity indices remained under pressure in late-morning deals as market participants indulged in reducing their positions. Weak cues from the global markets weighed on the domestic sentiments. Traders were cautious after U.S. President Donald Trump levied tariffs on Canada, Mexico and China over the weekend.

On Saturday, Trump signed an order implementing a 25% tariff on imports from Mexico and Canada and a 10% tariff on goods from China.

Most of the sectoral indices on BSE were trading in red, with only the exception of the Consumer Durables counter. Stocks from Capital Goods, Power, Industrials, PSU and Utilities counters were the prominent losers.

On the global front, Asian markets were trading in red following weak cues from the US markets on Friday. Back home, in a stock-specific development, Sun Pharmaceutical rose as it reported a 14% surge in Q3 consolidated net profit.

The SENSEX traded at 777,019, down by 448 points or 0.63% after trading in a range of 76756.09 and 77138.19. The index had 10 stocks advancing and 21 stocks declining.

The broader indices were trading in red; the BSE mid-cap index was down by 1.02%, while the small-cap index was down by 1.53%.

The NIFTY50 traded at 23290.50, down by 191.65 points or 0.82% after trading in a range of 23222.00 and 23345.15. The index had 15 stocks advancing and 36 stocks declining.

All Asian markets were trading lower; Hang Seng declined 172.21 points or 0.85% to 20,052.90, Jakarta Composite plunged 161.43 points or 2.32% to 6,947.77, Straits Times fell 27.53 points or 0.71% to 3,828.29, KOSPI dropped 63.94 points or 2.54% to 2,453.43, Nikkei 225 slipped 1044.47 points or 2.64% to 38,528.02 and Taiwan Weighted lost 830.7 points or 3.66% to 22,694.71.