Mumbai, India (BBN) – The Nifty and the Sensex were trading flat as markets reacted to the change in immigration policy announced by the US President Donald Trump.
President Donald Trump introduced immigration curbs that sparked criticism at home and abroad, adding to fears that his ‘America First’ policy may prove destabilising for the rest of the world, reports The Hindu Business Line.
Trump had on Friday put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen.
At 10.55am, the 30-share BSE index Sensex was down 18.29 points or 0.07 per cent at 27,864.17 and the 50-share NSE index Nifty was down 8.75 points or 0.1 per cent at 8,632.50.
Among BSE sectoral indices, IT index fell the most by 0.79 per cent, followed by auto 0.66 per cent, consumer durables 0.52 per cent and oil & gas 0.35 per cent.
On the other hand, realty index was up 1.02 per cent, healthcare 0.61 per cent, capital goods 0.44 per cent and FMCG 0.23 per cent.
Top five Sensex gainers were Bharti Airtel (+4.28 per cent), Sun Pharma (+1.69 per cent), Dr Reddy’s (+1.31 per cent), Reliance (+0.67 per cent) and Lupin (+0.67 per cent), while the major losers were Tata Motors (-1.48 per cent), Hero MotoCorp (-1.4 per cent), Wipro (-1.37 per cent), Tata Steel (-1.27 per cent) and TCS (-1.19 per cent).
A report by IFA Global said: “Asian stock markets are trading in the red, with Hang Seng index trading lower by 13 points and Nikkei index is trading lower by 144 points as investors eye the international backlash against US President Donald Trump’s immigration policy, which has added pressure on the dollar.
US stock markets closed on a mixed note.
The Dow Jones Industrial Average closed lower by 7 points and Nasdaq index closed higher by 5 points.
US equities closed on a mixed note after US President Donald Trump on Friday introduced immigration curbs that sparked a backlash in the United States and abroad. European stock markets closed on a flat note, with FTSE closed higher by 23 points and CAC lower by 27 points.
European markets ended the day lower after strong gains earlier this week, with investors digesting corporate earnings and fluctuations in currency markets.”