Mumbai. Due to the ongoing geopolitical crisis in West Asia, domestic stock markets witnessed a big fall on Monday and BSE’s sensitive index Sensex fell by 1,048 points. The geopolitical crisis in West Asia has deepened after the attack on Iran on February 28 in a joint military operation by America and Israel.
Iran has also retaliated by attacking several countries with US military bases in the region. Its effect was visible as soon as the market opened on Monday. In the domestic stock markets, Sensex opened 2,743.46 points down at 78,543.73 points.
However, later its decline reduced considerably. It finally closed at 80,238.85, down 1,048.34 points (1.29 percent), its six-month low. Similarly, the Nifty-50 index of the National Stock Exchange (NSE) fell by 312.95 points or 1.24 percent to one-month low of 24,865.70 points.
There was more decline in medium and small companies. Nifty Midcap-50 index closed down by 1.46 percent and Smallcap-100 index closed down by 1.75 percent.
The India VIX index, which measures market volatility, rose above 25, indicating immense uncertainty. Except metals and pharma, there was a decline in other sectors. Nifty Auto fell 2.20 percent. Indices of consumer durable products and oil and gas sectors also fell by more than two percent. Indices of banking, IT, media, realty and chemicals groups fell by more than one percent. Among Sensex companies, IndiGo’s share fell by more than six percent and L&T’s share fell by five percent.
Adani Ports and Maruti Suzuki fell by more than three percent and Asian Paints, Reliance Industries and Bajaj Finserv fell between two to three percent. Shares of Mahindra & Mahindra, Bajaj Finance, HCL Technologies, Eternal, Trent, Titan, UltraTech Cement, NTPC and State Bank of India fell between one and two percent.
Shares of Axis Bank, Infosys, TCS, Tech Mahindra, Hindustan Unilever, PowerGrid, Tata Steel, HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Bharti Airtel were also in the red. BEL shares closed with a rise of more than two percent. Shares of Sun Pharma and ITC also remained up.
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