Sensex dips as US-China trade jitters grow
Indian stock indices declined at the market open on Friday as concerns emerged about potential United States trade actions against China regarding their 2020 agreement. The Sensex fell 113 points to 84,443 while the Nifty dropped 27 points to 25,866. Rising crude oil costs from fresh American sanctions on Russia added pressure to trading activity.
Consumer goods companies led the losses with major firms dropping as much as 3.5 percent. Banking and steel stocks provided some support, preventing steeper declines. Metal shares advanced 1 percent while consumer product stocks fell 1.4 percent in sectoral trading.
Market analysts noted the Nifty maintains support above 25,700 with resistance at 25,950. Broader market indices showed slight gains, as mid-sized and smaller-company stocks edged higher. Analysts recommended selective buying during price declines while taking profits when markets rally.
