Sensex down 200 pts, Nifty near 11,000

Friday,   08-Feb-2019   09:22 AM (IST)

Benchmark indices opened lower on Friday following their Asian peers that slipped on concerns over US-China trade. Shares of Tata Motors slumped 28% in the early trade after the company on Thursday post market hours reported the biggest quarterly loss of Rs 26,961 crore among Indian corporates after it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter. Asian stocks slipped on Friday as investors fretted about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.3 per cent while Japan’s Nikkei fell 1.2 per cent. In the overnight trade, US stocks ended with sharp losses. The Dow Jones fell  0.86 per cent, to 25,171.83, the S&P 500 lost 0.93 per cent and the Nasdaq Composite dropped 1.18 per cent, to 7,288.35.