2 days ago
Sensex Falls 271 Points as Nifty Slips Below 24,050
Indian stock markets started Monday lower.
The Sensex and Nifty both lost value soon after trading began.
Investors were worried about events happening around the world.
Oil became more expensive, which can make things costlier for India because it imports much of its oil.
Investors were also concerned that US interest rates could stay high or rise.
Higher rates can make shares less attractive.
Tensions between the United States and Iran added to the worries.
HDFC Bank moved higher because investors were watching news about its next chief executive.
Some sectors, including technology, metals and state-owned banks, fell more sharply.
The Sensex fell 271 points, or 0.35%, to 76,993.17 at 9:16 am on August 31.
The Nifty declined 120 points, or 0.53%, to 24,047.20, while mid-cap and small-cap indexes also opened lower.
Weak global cues, rising crude prices, higher bond yields and concerns about US interest rates pressured Indian equities.
Brent crude rose above $90 a barrel amid renewed tensions between the United States and Iran.
HDFC Bank gained 1.53% to Rs 731 amid speculation about the succession of managing director and CEO Sashidhar Jagdishan.
- Who
- Indian stock-market investors, companies including HDFC Bank, and market analyst V K Vijayakumar.
- What
- The Sensex and Nifty opened lower, while HDFC Bank gained.
- Where
- Indian stock markets.
- When
- August 31, 2026; the reported opening levels were recorded at 9:16 am.
- Why
- Weak global cues, rising crude oil prices, higher bond yields, concerns about US interest rates and renewed United States-Iran tensions weighed on sentiment.
Key facts
- Sensex
- 76,993.17, down 271 points or 0.35% at 9:16 am.
- Nifty
- 24,047.20, down 120 points or 0.53% at 9:16 am.
- Market volatility
- India VIX rose nearly 3% to 10.99.
- Crude oil
- Brent crude moved above $90 a barrel.
- HDFC Bank
- The stock gained 1.53% to Rs 731 in early trade.
- Sector declines
- The Nifty Metal index fell 1.45%, Nifty IT declined 1.13% and the PSU Bank index dropped 1.11%.
- Other market factors
- Investors were also watching US bond yields, Federal Reserve developments, economic data, auto sales, PMI readings, US jobs data and MSCI rebalancing.
Quotes
V K Vijayakumar
Chief investment strategist at Geojit Investments Ltd
“A key focus of the market today will be the HDFC Bank stock which can turn highly volatile responding to speculation surrounding the successor to Sasidhar Jagadishan”
news18.com
Sources
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