Punjab Newsline | New Delhi
Global markets remained under pressure on Monday as ongoing tensions in West Asia triggered fresh volatility, leading to a sharp fall in Indian benchmark indices during early trading.
The 30-share BSE Sensex plunged 1,191.24 points to 72,391.98, while the NSE Nifty declined 349.45 points to 22,470.15. Analysts attributed the downturn to continued uncertainty in global markets and sustained foreign fund outflows, which have weakened domestic equities.
Despite the equity market slump, the Indian Rupee showed signs of recovery. It strengthened by 128 paise against the US Dollar, rebounding from its all-time low to trade at 93.57.
Among Sensex constituents, Axis Bank, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Bharti Airtel, and ICICI Bank were among the major losers in early trade. On the other hand, Bharat Electronics, Reliance Industries, Power Grid, Tata Consultancy Services, and Hindustan Unilever managed to post gains.
Market experts believe that geopolitical developments and foreign investor activity will continue to influence market sentiment in the near term.