The market ended on a negative note, Nifty below 12,000

India’s benchmark indices, the BSE Sensex and the NSE Nifty, which opened lowered traded on a pessimistic note and settled for the day at 40,675.45 and 11,994.20 down by almost 126.72 and 54 points, respectively. 

The markets slipped further in early noon session, as sentiments on the street weakened further with a rating agency, ICRA stating that India Inc. delivered an expectedly weak performance during the second quarter of the current financial year (Q2FY20), reeling under the impact of continued weakness in consumer sentiments and a general slowdown in the economy. However, in the closing session, the market recovers post-commerce and Industry Minister Piyush Goyal’s statement that the value of India's overall exports grew by ~8 per cent to US$538.07 billion during 2018-19. Besides, the government aims to increase the country's export of merchandise and services to USF 900 billion in 2019-20 and raise India's share in world exports (goods and services) to 3.5 per cent.

In today’s trading session, only 9 stocks out of 30 in the Sensex ended on a positive note. Bajaj Auto (up by 3.2 per cent), which reported above street estimate sales numbers for November 2019 month was the top gainer followed by TCS (up by 1.5 per cent) and Kotak Bank (up by 0.82 per cent). The biggest loser from the Sensex was Yes Bank (down by 7.1 per cent), Tata Steel (down by 5.1 per cent) and Vedanta (down by 3.4 per cent). 

On the other hand, the Asian markets ended mostly lower on Tuesday after the US administration announced plans to reinstate tariffs on metal imports from Brazil and Argentina and proposed retaliatory tariffs against France for its new digital services tax, rekindling fears over global trade tensions.