Markets slump in early trade on global trade war fears

MUMBAI: Benchmark equity indices Sensex and Nifty slumped in initial trade on Friday due to heavy selling in metal, oil & gas shares as President Donald Trump’s sweeping tariff salvo reignited the fears of global trade war.

Besides, foreign fund outflows have also dented the investor sentiment.

The 30-share BSE Sensex slumped 591.05 points or 0.77 per cent to 75,704.31 in the morning trade. The broader NSE Nifty declined 202.55 points or 0.87 per cent to 23,047.55.