Sensex plunges 826 pts as worries over broader Middle East conflict sink global equities
The 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88. During the day, it plummeted 894.94 points or 1.36 per cent to 64,502.68
Mumbai: Benchmark equity indices Sensex and Nifty plunged more than 1 per cent on Monday, falling for the fourth day running, amid weak trends in global markets in view of heightened tensions in the Middle East.
Crude oil quoting above USD 90 a barrel mark also played spoilsport for the markets.
The 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88. During the day, it plummeted 894.94 points or 1.36 per cent to 64,502.68.
The Nifty fell 260.90 points or 1.34 per cent to 19,281.75.
In the four sessions since Wednesday, Sensex tanked 1,925 points to fall below the 65,000 mark while Nifty plunged by around 530 points.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards.
Mahindra & Mahindra and Bajaj Finance were the gainers.
In Asian markets, Seoul, Tokyo and Shanghai settled lower.
European markets were trading with cuts. The US markets ended in negative territory on Friday.
Global oil benchmark Brent crude climbed 0.04 per cent to USD 92.18 a barrel.
“Despite the healthy performance of private banks and marginal reductions in oil prices, investor confidence remained pessimistic, and a widespread consolidation persisted in the domestic markets. The global markets echoed the same trend, as the unrest in West Asia has the potential to spiral further.
“Increased apprehensions surrounding prolonged elevated interest rates fuelled a continued upward movement in the US 10-year yield,” said Vinod Nair, Head of Research at Geojit Financial Services.
Foreign Institutional Investors (FIIs) bought equities worth Rs 456.21 crore on Friday, according to exchange data.
The BSE benchmark fell 231.62 points or 0.35 per cent to settle at 65,397.62 on Friday. The Nifty declined 82.05 points or 0.42 per cent to 19,542.65.
