Mumbai Domestic stock markets witnessed a decline in early trade on Tuesday amid rising tensions in West Asia and high crude oil prices. Due to impact on investor sentiment, BSE Sensex fell 278.32 points to 77,450.64, while NSE Nifty fell 57.65 points to trade at 24,230.45.
Selling pressure in the market has increased at a time when international crude oil prices are rising and investors are cautious about tensions in West Asia.
Among 30 Sensex companies, these shares fell the most
Among the 30 companies included in the Sensex, shares of Bharti Airtel, Asian Paints, InterGlobe Aviation, Infosys, HCL Tech and Tech Mahindra fell the most.
However, not all major stocks in the market fell. Shares of Reliance Industries, Sun Pharma, Maruti and Axis Bank registered gains during early trade.
Pressure in Asian markets too
Along with the domestic market, weakness was also seen in the major stock markets of Asia. South Korea's Kospi, Japan's Nikkei 225, China's SSE Composite and Hong Kong's Hang Seng were trading with losses.
Earlier on Monday, American stock markets also closed with a decline.
Brent crude crossed 91 dollars
The futures price of international oil standard Brent crude oil rose 0.63 percent to $ 91.46 per barrel. The rise in crude oil prices is likely to put pressure on the economy and costs of companies in a big oil importing country like India.
FII selling also increased concerns
According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 2,535.10 crore on Monday.
Continued selling by foreign investors is one of the major factors affecting market sentiment.
The market closed with a decline on Monday also
Earlier on Monday, the Sensex had closed with a fall of 281.09 points. At the same time, a decline of 78.35 points was recorded in Nifty.
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