Sensex falls 700 points, Nifty below 24,600 on US-China trade tensions; RIL, bank stocks drag

Indian equity markets traded lower, influenced by global market cues and U.S.-China trade concerns, with the Sensex and Nifty50 declining. Despite a strong 7.4% GDP growth in the January-March quarter, negative cues from global markets weighed on investor sentiment. Experts suggest that domestic tailwinds and potential rate cuts could support the market.