1 hr ago
Indian Stocks Fall as Oil Prices and Outflows Weigh
Indian stock markets started Tuesday lower.
The BSE Sensex fell 503 points, and the Nifty 50 dropped 151 points.
Investors were worried because crude oil became more expensive.
They were also concerned about uncertainty involving the US-Iran conflict.
Higher oil prices can create difficulties for businesses and the economy.
Foreign investors sold a large amount of Indian shares on Monday.
The Indian rupee also weakened slightly against the US dollar.
Several large companies fell, although some stocks, including Sun Pharma, rose.
The BSE Sensex fell 503 points to 72,260.09 in early Tuesday trading.
The Nifty 50 dropped 151 points to 22,626.50, while the rupee slipped to 96.00 per dollar.
Higher Brent crude prices and foreign fund outflows pressured investor sentiment.
Foreign Institutional Investors sold equities worth Rs 5,353.22 crore on Monday.
Asian markets and US markets also traded lower, while Sun Pharma, InterGlobe Aviation and Adani Ports gained.
- Who
- Indian equity benchmarks, investors, foreign institutional investors and listed companies were involved.
- What
- The BSE Sensex and Nifty 50 fell sharply at Tuesday’s open, while the rupee weakened slightly.
- Where
- Indian stock exchanges; Asian and US markets also recorded declines.
- When
- Tuesday morning, following a major decline on Monday.
- Why
- Elevated crude oil prices, foreign fund outflows and uncertainty surrounding the US-Iran conflict weighed on sentiment.
Key facts
- Sensex move
- Down 503 points to 72,260.09 in early trade
- Nifty 50 move
- Down 151 points to 22,626.50
- Rupee
- Depreciated 2 paise to 96.00 per US dollar
- Brent crude
- Up 1.74% at USD 107.10 per barrel
- Foreign fund outflows
- Foreign Institutional Investors sold Rs 5,353.22 crore of equities on Monday
- Monday’s close
- The Sensex fell 1,124.02 points and the Nifty 50 declined 360.25 points
- Market context
- South Korea’s KOSPI, Japan’s Nikkei 225 and Hong Kong’s Hang Seng traded lower
Quotes
Ponmudi R
CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm
“Indian equity markets are expected to remain under pressure as elevated crude oil prices and persistent uncertainty over the US-Iran conflict weigh on market sentiment.”
telegraphindia.com
Sources
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