5 months ago
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For the third day in a row, the 30-share BSE Sensex fell 585.63 points to 72,814.15, continuing its downward trend. At 22,103.85, the NSE Nifty had a decrease of 168.65 points
 "Sensex falls over 500 points for the third day in a row")
Representational image. PTI
Tuesday’s early trading saw a further decline in benchmark equity indexes due to concerns over worsening Middle East tensions and gloomy global trends.
Exodus of foreign funds and a spike in the price of Brent crude oil further lowered investor confidence.
For the third day in a row, the 30-share BSE Sensex fell 585.63 points to 72,814.15, continuing its downward trend. At 22,103.85, the NSE Nifty had a decrease of 168.65 points.
The biggest laggards from the Sensex basket were ICICI Bank, NTPC, Infosys, Bajaj Finance, Kotak Mahindra Bank, Bajaj Finserv, and IndusInd Bank.
Among the winners were Maruti, Titan Company, Nestle, and Mahindra & Mahindra.
Hong Kong, Shanghai, Tokyo, Seoul, and other Asian markets were trading at lower prices.
On Monday, Wall Street concluded in negative territory.
“Market sentiment was impacted by higher-than-expected inflation data and tensions between Iran and Israel,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Global oil benchmark Brent crude climbed 0.58 per cent to USD 90.62 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,268 crore on Monday, according to exchange data.
The market is more concerned about the geopolitical issue, said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
“Israel’s military chief’s statement that “there will be a response to Iran’s attack on Israel” has increased the probability of escalation of tensions in the Middle East. We don’t know the timing and the nature of the Israeli response, which can be totally unexpected. This is likely to keep the markets weak in the near-term,” Vijayakumar added.
The BSE benchmark tanked 845.12 points or 1.14 per cent to settle at 73,399.78 on Monday. The NSE Nifty declined 246.90 points or 1.10 per cent to finish at 22,272.50.
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English (US) ·