Mumbai. Sensex and Nifty recorded a decline of about one percent in early trade on Friday. Investor sentiments are being continuously affected by the ongoing conflict in West Asia and rising oil prices. Heavy selling in global markets, continuous withdrawal of foreign capital and weakness of the rupee also further increased the bearish trend. BSE Sensex fell 708.38 points or 0.93 per cent to 75,326.04 in early trade while NSE Nifty slipped 222.05 points or 0.93 per cent to 23,417.10.
Among the 30 companies included in the Sensex, shares of Larsen & Toubro, Tata Steel, InterGlobe Aviation, UltraTech Cement, HDFC Bank and Tech Mahindra were the biggest losers. On the other hand, shares of Power Grid, Hindustan Unilever, ITC and Bajaj Finserv registered a rise. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite and Hong Kong’s Hang Seng were in decline.
American markets closed with a heavy fall on Thursday. The Nasdaq Composite lost 1.78 percent, the Dow Jones Industrial Average lost 1.56 percent and the S&P 500 lost 1.52 percent. The price of international standard Brent crude stood at $100.5 per barrel. According to stock market data, foreign institutional investors (FIIs) were offloading on Thursday and sold shares worth Rs 7,049.87 crore. However, domestic institutional investors (DIIs) bought shares worth Rs 7,449.77 crore.
Oil reaches US$100 per barrel, global stock markets fall
Oil prices rose again to US$100 per barrel due to concerns about war with Iran and stock markets around the world fell. The Standard & Poor’s (S&P) 500 fell 1.5 percent on Thursday and after a few days of relative calm, it again saw big fluctuations. The Dow Jones Industrial Average fell 1.6 percent and the Nasdaq Composite lost 1.8 percent. The reason for this decline was the oil market, where the price of one barrel of ‘Brent crude’ reached US $ 101.59.
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