Chaos in the stock markets due to the Middle East crisis: Sensex opened with a fall of 2,700 points, all-round selling amid worsening conditions.
Mumbai. Due to the crisis that started in West Asia last Saturday, domestic stock markets witnessed all-round selling on Monday and BSC Sensex opened with a fall of more than 2,700 points. In the interbank currency market, the rupee is currently down by 15 paise at Rs 91.23 per dollar.
The geopolitical situation in West Asia has worsened after the attack on Iran in a joint military operation by America and Israel. Iran has also retaliated by attacking several countries with American military bases. Its effect was seen as soon as the market opened on Monday. Globally, Japan’s Nikkei and Hong Kong’s Hang Seng are down by more than one percent.
However, China’s Shanghai Composite is almost stable. In the domestic markets, Sensex opened 2,743.46 points down at 78,543.73 points. However, later its fall reduced a bit and at the time of writing, it was down 926.18 points or 1.14 percent at 80,361.01 points.
On the last trading day, the Sensex closed at 81,287.19 points. Similarly, Nifty 50 index of National Stock Exchange (NSE) fell by 519.40 points and opened at 24,659.25 points. At the time of writing the news, it was also down by 300.90 points or 1.20 percent at 24,877.75 points. Selling was seen across all sectors.
On NSE, indices of auto, IT, media, public sector banks, realty, consumer durables, oil and gas and chemicals sectors fell by more than one percent. Nifty VIX, which indicates market fluctuations, reached above 16.
Shares of all Sensex companies except one, BEL, were moving down. Shares of L&T, Reliance Industries, ICICI Bank, Airtel, HDFC Bank, Mahindra & Mahindra, Eternal, State Bank of India and IndiGo were the biggest losers in the index decline.
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