6 hrs ago
West Asia Tensions Drive Sensex Down 813 Points
Indian share prices fell sharply for the third day in a row.
The Sensex lost 813 points and reached its lowest closing level in nearly three months.
The Nifty 50 also fell below 23,450.
Tensions in West Asia made investors worried.
These tensions pushed the price of crude oil above $100 per barrel.
Technology, financial services, consumer goods and oil-related shares were among those affected.
HCL Technologies and Infosys recorded some of the biggest losses.
Adani Ports and several other shares gained despite the broader decline.
A rise in India VIX showed that investors were becoming more cautious.
The BSE Sensex fell 813.35 points, or 1.08%, to 74,764.23, its lowest close in nearly three months.
The Nifty 50 dropped 203.60 points, or 0.86%, to finish at 23,431.50.
Escalating West Asia tensions pushed Brent crude 2.67% higher to $100.5 per barrel.
Information technology stocks led declines, with HCL Technologies falling 4.55% and Infosys dropping 4.43%.
Foreign institutional investors sold equities worth Rs 123.19 crore, while India VIX rose more than 6%.
- Who
- Indian stock-market investors, companies listed on the BSE and NSE, and foreign institutional investors.
- What
- The BSE Sensex and Nifty 50 fell sharply, extending their declines to a third consecutive day.
- Where
- Mumbai, India, in the Indian stock market.
- When
- The market session covered in the report; foreign institutional investor data was reported for Tuesday.
- Why
- Escalating tensions in West Asia pushed Brent crude above $100 per barrel and increased investor caution and selling.
Key facts
- Sensex close
- 74,764.23, down 813.35 points or 1.08%
- Nifty 50 close
- 23,431.50, down 203.60 points or 0.86%
- Market level
- Both indexes ended at nearly three-month lows
- Brent crude
- $100.5 per barrel, up 2.67%
- Biggest Sensex decliner
- HCL Technologies, down 4.55%
- Foreign institutional flows
- Equity sales worth Rs 123.19 crore
- India VIX
- Rose more than 6%
Sources
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