Dalal Street bleeds as war rattles investor sentiment
Sensex slumps 1,836 points on global weakness, crude surge
image for illustrative purpose
Mumbai: Equity benchmark indices Sensex and Nifty plunged sharply on Monday, tracking a steep global sell-off as the ongoing Middle East conflict continued to rattle investor sentiment.
Rising crude oil prices, persistent foreign fund outflows, and a weakening rupee compounded the pressure, making investors increasingly risk-averse.
The 30-share BSE Sensex slumped 1,836.57 points, or 2.46 per cent, to close at 72,696.39. During the session, it dropped as much as 1,974.52 points. The NSE Nifty fell 601.85 points, or 2.60 per cent, to settle at 22,512.65.
Among Sensex constituents, Titan emerged as the top loser, plunging over 6 per cent. Other major laggards included Trent, UltraTech Cement, Bharat Electronics, InterGlobe Aviation, Tata Steel, and HDFC Bank. On the other hand, HCL Tech, Power Grid, Infosys, and Tech Mahindra managed to end in the green. Global cues remained weak, with Asian markets such as South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng closing sharply lower. European markets were also trading deep in the red.
Brent crude prices climbed to USD 113.3 per barrel, heightening concerns over inflation and potential disruptions to global energy supplies.
Analysts said escalating geopolitical tensions in West Asia and uncertainty over key shipping routes have made investors jittery. The spike in oil prices, along with rising global bond yields and a record-low rupee, further dented market sentiment.
Broader markets also took a hit, with midcap and smallcap indices falling nearly 4 per cent each. All sectoral indices ended in the red, led by consumer durables, metal, and realty stocks. Foreign institutional investors continued their selling spree, offloading equities worth Rs 5,518 crore on Friday, while domestic investors provided some support through net buying.
