2 hrs ago
Geopolitical Tensions, Rate Fears Deepen Indian Stock Sell-Off
Indian stock markets fell on Monday.
The Sensex lost about 383 points, while the Nifty also dropped by half a percent.
Many investors sold shares because crude oil prices were rising.
They were also worried about growing tensions between the United States and Iran.
Another concern was that the United States might raise interest rates.
Technology, metal, real estate, and public-sector bank stocks were among the weaker areas.
Infosys was the biggest decliner among the Sensex companies, falling 3.81%.
Some companies, including Larsen & Toubro, Bharti Airtel, Maruti, and Power Grid, still gained.
The BSE Sensex fell 382.62 points, or 0.50%, to close at 76,132.81 on Monday.
The NSE Nifty declined 118.55 points, or 0.50%, to end at 23,779.15.
Selling was concentrated in metal, information technology, and oil and gas shares.
Investors reacted to rising crude prices, escalating US-Iran hostilities, and fears of a possible US rate hike.
Infosys fell 3.81%, while the BSE MidCap Select and SmallCap Select indexes also declined.
- Who
- Indian equity investors, companies listed on the BSE and NSE, and market analysts including Ajit Mishra and Ponmudi R.
- What
- The BSE Sensex and NSE Nifty fell 0.50% amid broad selling across several sectors.
- Where
- Mumbai, India, and India’s BSE and NSE markets.
- When
- Monday; the articles do not provide a calendar date.
- Why
- Rising crude oil prices, escalating US-Iran hostilities, persistent geopolitical uncertainty, and fears of a possible US interest-rate hike weighed on investor sentiment.
Key facts
- Sensex close
- 76,132.81, down 382.62 points or 0.50%
- Nifty close
- 23,779.15, down 118.55 points or 0.50%
- Sensex intraday low
- 75,970.52
- Biggest Sensex decliner
- Infosys, down 3.81%
- Weakest sectoral index
- Focused IT, down 2.17%
- Mid-cap performance
- BSE MidCap Select fell 0.84%
- Small-cap performance
- BSE SmallCap Select fell 0.15%
Quotes
Ajit Mishra
SVP–research at Religare Broking
“Indian equity markets ended lower as elevated crude oil prices and persistent geopolitical uncertainty continued to weigh on investor sentiment. Markets remained under pressure throughout the session amid sustained risk-off positioning”
thehansindia.com
“Markets remained under intense selling pressure on Monday, extending the ongoing corrective phase amid persistent geopolitical concerns and fear over a possible US interest rate hike”
thehansindia.com
Sources
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