Sensex nosedives 1,491 factors amidst uneasy international markets, raised oil rates
- Sensex rolls 1491 factors amidst intensifying Russia-Ukraine situation
- Foreign institutional capitalists proceeded their marketing spree in Indian markets
Equity standards got an extreme walloping on Monday, with the Sensex rolling 1,491 factors amidst incredibly weak international markets and also raised oil rates set off by the Russia-Ukraine problem. Extending its drop for the 4th straight session, the 30-share BSE Sensex opened up on a weak note and also plunged 1,966.71 factors or 3.61 percent to 52,367.10 throughout the day.
It lastly handled to recoup a few of the shed ground and also resolved at 52,842.75, a decrease of 1,491.06 factors or 2.74 percent. Similarly, the wider NSE Nifty tanked 382.20 factors or 2.35 percent to shut at 15,863.15. “The southward journey is continued in the Indian equity market on the back of intense geopolitical tension where boiling crude oil prices is spooking the investors’ sentiment in India. Brent crude is trading near USD 130 per barrel which is a multi-year high level.
“Higher petroleum rates are causing weak point in the rupee whereas ruthless marketing by FIIs is additionally triggering stress in our market,” according to Parth Nyati, founder of Tradingo. From the 30-share pack, Indusind Bank, Axis Bank, Maruti Suzuki, Bajaj Finance, Bajaj Finserv, UltraTech Cement and Mahindra & Mahindra were the biggest drags, tumbling up to 7.63 per cent.
In contrast, Bharti Airtel, HCL Technologies, Tata Steel and Infosys settled in the green. Among BSE sectoral indices, realty, bank, finance and auto finished with deep cuts. Bourses in Hong Kong, Shanghai and Tokyo settled significantly lower. Stock exchanges in Europe too were trading in the negative zone in the afternoon session. Meanwhile, international oil benchmark Brent crude surged 6.08 per cent to USD 125.3 a barrel.
Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 7,631.02 crore on a net basis on Friday, according to exchange data. “This week’s emphasis will certainly get on the Russia-Ukraine problem and also its influence on oil rates. On the residence front, capitalists will certainly be seeing the result of the state elections in 5 states on March 10,” stated Mohit Nigam, Head – PMS, Hem Securities.