Market opened with huge fall, fear of Iran war and crude oil price crossed $125, big fall in Sensex-Nifty.
Mumbai. Sensex and Nifty fell in early trade on Thursday due to sharp rise in crude oil prices, weak global trends and withdrawal of foreign capital. BSE Sensex fell 821.79 points to 76,674.57 in early trade and NSE Nifty slipped 287.3 points to 23,890.35. Among the 30 companies included in the Sensex, shares of InterGlobe Aviation, Eternal, UltraTech Cement, Mahindra & Mahindra, Axis Bank and Adani Ports were the biggest losers.
Whereas shares of Bajaj Finance, Bajaj Finserv, Tech Mahindra, Infosys and Power Grid remained on the rise. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 and Hong Kong’s Hang Seng declined while China’s SSE Composite showed marginal gains. US markets closed with a decline on Wednesday.
Brent crude oil prices rose above US$125 per barrel on fears of a possible escalation in the Iran war. According to stock market data, foreign institutional investors (FIIs) were sellers on Wednesday and sold shares worth Rs 2,468.42 crore. Sensex closed 0.79 percent higher and Nifty 0.76 percent higher on Wednesday.
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