TRADE CONCERNS, TATA MOTORS DRAG MARKETS LOWER

The benchmark indices posted their biggest single-day fall of the year on Friday on the back of renewed trade concerns between the US and China. The 18 percent plunge in the shares of Tata Motors, after reporting its biggest quarterly loss, weighed on the market’ s performance. The Sen sex ended the day at 36,546, down 425 points, or 1.15 percent— the most since December21. Ending its five-day gaining streak, the Nifty declined 126 points, or 1.14 percent, to 10,944. Most Asian markets dropped on fears that US-China relations could worsen as another round of tariff hikes kick sin. The fall in the markets comes a day after the RBI cut interest rates. All 19 sector al indices ended with losses, except realty and telecom. Domestic institutional investors pulled out ~960 crore from equities, even as foreign institutional investors bought shares worth ~844 crore.