As per China’s government data, February’s trade balance was significantly weaker at $4.12bn compared to $39.16bn in January. Further, February exports fell 20.7% compared to growth of 9.1% in the same period a year ago, and imports contracted 5.2% in February compared to 1.5% contraction reported in February 2018.
Shares of MOIL and Hindalco, which dropped 3% each, were leading the index’s fall. Shares of Jindal Steel and Coal India also contributed to the fall 2% each. Shares of Vedanta, JSW Steel, APL Apollo Tubes, and Tata Steel also declined 1% each.
Meanwhile, equity benchmark indices were trading on a mixed note on Friday. The Sensex rose 1 point to 36,727 levels, while the Nifty dropped 11 points at 11,047 levels.