BSE Sensex plunges 826 pts amid worries over broader Middle East conflict
BSE Sensex and Nifty, the benchmark equity indices, took a plunge by more than 1 per cent on Monday, falling for the fourth consecutive day
Amid weak trends in global markets in view of heightened tensions in the Middle East, benchmark equity indices BSE Sensex and Nifty plunged more than 1 per cent on Monday (October 23), falling for the fourth day running.
Crude oil quoting above US$ 90 a barrel mark also played spoilsport for the markets.
The 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88. During the day, it plummeted 894.94 points or 1.36 per cent to 64,502.68.
The Nifty fell 260.90 points or 1.34 per cent to 19,281.75.
In the four sessions since Wednesday (October 18), Sensex shed 1,925 points to fall below the 65,000 mark, while Nifty plunged by around 530 points.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards.
Mahindra & Mahindra and Bajaj Finance were the gainers.
In Asian markets, Seoul, Tokyo and Shanghai settled lower.
European markets were trading with cuts. The US markets ended in negative territory on Friday (October 20).
Global oil benchmark Brent crude climbed 0.04 per cent to US$ 92.18 a barrel.
“Despite the healthy performance of private banks and marginal reductions in oil prices, investor confidence remained pessimistic, and a widespread consolidation persisted in the domestic markets. The global markets echoed the same trend, as the unrest in West Asia has the potential to spiral further,” Vinod Nair, head of Research at Geojit Financial Services, said. “Increased apprehensions surrounding prolonged elevated interest rates fuelled a continued upward movement in the US 10-year yield,” Nair added.
Foreign Institutional Investors (FIIs) bought equities worth Rs 456.21 crore on Friday (October 20), according to the exchange data.
The BSE benchmark fell 231.62 points or 0.35 per cent to settle at 65,397.62 on Friday (October 20). The Nifty declined 82.05 points or 0.42 per cent to 19,542.65.
(With agency inputs)
