Geopolitical tension after Pulwama terror strike erodes investor confidence

Mumbai (Maharashtra) [India], Feb 18 (ANI): Equity benchmark indices traded below their psychological support levels on Monday while the National Stock Exchange (NSE) expressed condolences to families of CRPF jawans killed in the Pulwama terror attack.
After a flat start, negative sentiments prevailed as investors remained edgy over the short-term prospects.
Prime Minister Narendra Modi assured action against Pakistan-based terror group, Jaish-e-Mohammed, which claimed responsibility of Thursday's terror strike in Pulwama. The impending general elections and lacklustre corporate results during third quarter of current fiscal further dampened the spirit.
At the closing bell, the S&P BSE Sensex was down 310 points at 35,498, while the Nifty 50 closed 83 points down at 10,641.
Shares of Yes Bank Ltd closed 2.6 per cent lower after being pilled up by the Reserve Bank of India for breaching confidentiality and violating regulatory guidelines.
Other prominent losers were Reliance Industries, Asian Paints, TCS, Bajaj Finserve and HCL Tech. The losses were spread across various sectors.
The NSE decided to contribute an amount equivalent to one day's salary of all its group employees to a government sponsored fund set up for the purpose of supporting families of Central Armed Paramilitary Forces personnel killed or injured in action. "We are deeply grateful to the services personnel for their many sacrifices for the nation," it said in a statement.

Meanwhile, Asian stock markets traded higher with trade talks between the United States and China scheduled for this week in Washington after a series of high-level meetings in Beijing concluded last week.
(ANI)