BSE Sensex closed lower by 351.56 points at 33,019.07, while the Nifty 50 fell 116.60 points to close at 10,128.40. Here are the highlights from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 declined over 1% as trade war fears escalated after China announced 25% tariff on 106 products in 14 categories imported from the US, including soybeans, automobiles and chemicals, Bloomberg reported. Also, the Reserve Bank of India kicked off its two-day policy meeting. According to a Mint poll, the central bank will keep interest rates unchanged in the first monetary policy review of the current fiscal year, amid a gradual recovery in growth and easing inflation.

3.35 pm IST
Closing bell
BSE Sensex closed lower by 351.56 points, or 1.05%, to 33,019.07, while the Nifty 50 fell 116.60 points, or 1.14%, to close at 10,128.40.

3.03 pm IST
Market update
BSE Sensex traded lower by 395.15 points, or 1.18%, to 32,975.48, while the Nifty 50 fell 128.65 points, or 1.26%, to 10,116.35.

3 pm IST
China slaps duties on US goods, including soybeans, planes, autos
China hit back on Wednesday at the Trump administration’s plan to slap tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key US imports including soybeans, planes, cars, whiskey and chemicals. Beijing’s list of 25% additional tariffs on US goods covers 106 items with a trade value matching the $50 billion targeted on Washington’s list, China’s commerce and finance ministries said. The effective date will depend on when the US action takes effect. (Reuters)

2.25 pm IST
Market update
BSE Sensex traded lower by 283.66 points, or 0.85%, to 33,086.97, while the Nifty 50 fell 98.10 points, or 0.96%, to 10,146.90.

source: livemint.com