Share Market Today: The Indian stock market fell for the fifth consecutive trading session today due to rising crude oil prices and weak cues in global markets. As the market opened, the BSE Sensex slipped below 76,000, while the NSE Nifty was seen trading below the 23,700 level.
The impact of weakness in global markets and rising tensions in the Middle East is clearly visible on the Indian market as well.
Asian and American markets also declined
Heavy selling was seen in Asian stock markets today. Japan’s Nikkei 225 was down about 2.85 percent and Topix was down 1.35 percent. South Korea’s Kospi fell 2.91 percent and Kosdaq fell 2.64 percent.
On the other hand, US stock markets were also weak. The Nasdaq fell more than 2 percent, while the Dow Jones and S&P 500 also closed significantly lower.
Crude oil prices cross $100
The price of Brent crude rose above $100 per barrel due to rising tensions between the US and Iran in the Middle East. High crude oil prices have raised concerns among investors, due to which global markets are under pressure.
Gift Nifty gave a weak signal
Gift Nifty was trading at around 23,705, down around 169 points from the previous close of Nifty futures. These signals pointed to the beginning of a gap-down in the Indian market.
US-Iran tensions and the impact of Trump tariffs
The US military has confirmed yet another attack on Iran, raising geopolitical uncertainty. On the other hand, America has announced new tariffs on various countries. A 10 percent tariff has been imposed in India, which is also impacting trade and investor sentiment.
Infosys results were also in discussion
IT major Infosys reported an 8.6 per cent drop in net profit in its first quarter results, while the company’s revenue rose. The company has also signed major deals worth $3.6 billion.
Softness in gold and silver prices
Amid fall in the stock market, the price of gold has also fallen slightly in the international market. Weakness was seen in both spot gold and silver.
Crude oil prices, global geopolitical situation and the direction of international markets are likely to have a direct impact on the Indian stock market in the coming days.
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