Markets were down by 409 points on the BSE at 32596 and the Nifty was down by 116 points at 9998. The Nifty managed to breach the pshycological 10000 mark and traded below it for the larger part of the day. The Indian and global equities fell following Trade War between China and USA.The US President has imposed trade tariffs on China, and China has imposed trade sanctions on 128 items of USA.

The Indian stock markets have been consolidating since this year. Factors like long term capital gains, liquidity, rising bond yields and volatile global markets, Crude hike, Fed rate hike and the new Banking fraud of union bank amounting to 303.84 crores have led to fall in markets. It is global and local factors combined effecting the markets.