Mumbai: The impact of rising crude oil prices and ongoing uncertainty in global markets was clearly visible on the domestic stock market on Monday. Sensex fell by about 730 points in early trade, while Nifty also fell below the level of 23 thousand. Continuous selling of foreign capital also weakened investor sentiment.
BSE Sensex fell 730 points to 73,170.12 in early trade. At the same time, NSE Nifty slipped 231.50 points to 22,908.95.
All 30 companies of Sensex are in red mark
Shares of all 30 companies included in the Sensex were trading with a decline in early trade. Shares of Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, Bajaj Finserv, Hindustan Unilever, Mahindra & Mahindra, Larsen & Toubro and Bharat Electronics were the biggest losers.
Pressure in Asian markets too
A weak trend was also seen in Asian markets. South Korea's Kospi, Japan's Nikkei 225 and China's SSE Composite were trading in decline. However, Hong Kong's Hang Seng remained in the lead.
In contrast, American markets closed with gains on Friday.
Brent crude crossed $106
The rise in crude oil prices remains a major cause of concern for the market. The future price of international oil standard Brent crude rose 2.27 percent to $ 106.7 per barrel.
Selling by foreign investors continues
According to stock market data, foreign institutional investors (FIIs) sold shares worth a net Rs 3,693.93 crore on Friday. This selling of foreign capital also affected the sentiment of the domestic market.
Earlier on Friday, Sensex had closed with a gain of 315.20 points and Nifty with a gain of 77.40 points.
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