Indian benchmark indices Sensex and Nifty witnessed a significant slump in early trade, primarily influenced by escalating geopolitical tensions in West Asia and a sharp increase in crude oil prices, alongside a bearish trend observed across other Asian markets.
Sensex and Nifty50 Performance: Key Market Highlights Today
- Indian benchmark indices, Sensex and Nifty, fell significantly in early trade due to rising West Asia tensions and higher crude oil prices.
- The 30-share BSE Sensex dropped 616.15 points, while the 50-share NSE Nifty declined by 190.50 points.
- Major laggards included InterGlobe Aviation, Tata Steel, Maruti, Asian Paints, HDFC Bank, and Bajaj Finserv.
- Brent crude, the global oil benchmark, surged by 3.96 per cent to $79.02 per barrel, impacting investor sentiment.
- Asian markets, including South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng, also traded lower.
Benchmark indices Sensex and Nifty slumped in early trade on Monday amid escalating tensions in West Asia and rising crude oil prices.
Bearish trend in Asian peers also dragged the domestic markets lower.
Winners and Losers on Dalal Street
After two days of rally, the 30-share BSE Sensex tanked 616.15 points to 76,946.97 in early deals. The 50-share NSE Nifty dropped 190.50 points to 24,015.
From the Sensex pack, InterGlobe Aviation, Tata Steel, Maruti, Asian Paints, HDFC Bank and Bajaj Finserv were among the major laggards.
Tata Consultancy Services, NTPC, HCL Tech and Power Grid were the gainers.
How Global Markets Impacted Indian Equities
Brent crude, the global oil benchmark, quoted 3.96 per cent higher at $79.02 per barrel.
The escalation in geopolitical tensions has triggered a sharp rebound in crude oil prices, weighing on overall investor sentiment, according to a market analyst.
In Asian markets, South Korea's Kospi slumped nearly 7 per cent. Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index also traded lower.
US markets ended higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,603.72 crore on Friday, according to exchange data.
