stock market situation
Sensex fell by 1,312.91 points, Nifty closed down by 360.30 points.
There was a huge decline in the Indian stock market on Monday. Rising tensions between the US and Iran as well as PM Modi’s appeal to save petrol and diesel made investors worried. Due to this, the market started on the red mark.
Negative atmosphere continued throughout the day and in the end Sensex fell by 1,312.91 points and closed at 76,015.28, while Nifty fell by 360.30 points to reach 23,815.85. The Indian rupee fell 85 paise to close at a record low of 95.34 against the US dollar.
Asian markets trend
A mixed trend was seen in Asian markets. Japan’s Nikkei 225 index closed at 62,479, down 0.38 percent. At the same time, Singapore’s Straits Times closed in the positive zone with a gain of 0.42 percent, Hong Kong’s Hang Seng 0.06 percent and Taiwan’s weighted index gained 0.45 percent.
due to decline
Experts believe that the main reason for the decline is PM Modi’s appeal to reduce the purchase of petrol, diesel and gold. Additionally, the Prime Minister advised to save energy and avoid non-essential foreign trips.
Amidst this geopolitical tension, the prices of Brent crude oil in the global market have reached around $ 103 per barrel. Investors are now assessing higher oil prices, a weaker rupee and potential economic pressures.
gold and silver prices
Along with the decline in the stock market on Monday, there was less movement in the bullion market also. In Delhi, the price of gold of 99.9 percent purity fell by Rs 600 to Rs 1,55,300 per 10 grams. At the same time, silver prices increased by Rs 3,700, taking it to Rs 2,65,000 per kg.
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