India’s share markets, as well as its currency, slipped in early trade on Wednesday, tracking the weakness in their Asian peers over some investors' concerns over the US-China trade deal, which is likely to be sealed later in the day.
The Bombay Stock Exchange’s 30-share index, the Sensex, fell 218 points to trade at 41,735. National Stock Exchange’s (NSE) 50-company index, Nifty also fell 61 points to trade at 12,301 points during the early trade.
The Indian currency, the rupee lost its winning streak against the Dollar. The rupee fell 14 paise to 71.01 against the dollar in early trade.
Indian equity, as well as the foreign exchange markets, were down in tandem with their Asian peers on reports that despite the US-China trade deal some tariffs on Chinese goods will stay in place.
US President Donald Trump and Chinese Vice Premier Liu He are scheduled to sign the trade pact at a ceremony in White House on Wednesday.
For some 18 months, the United States and China, the world’s two leading economies, have been embroiled in a trade war over what Trump has deemed unfair economic conditions and alleged anti-competitive behaviour by China – an allegation that Beijing denies.