• Source:JND

After having a massive uptick in the previous session, post some indications of easing in the war in the Middle East, the domestic equity market plummeted nearly 2 per cent in the early trade as investors turned cautious upon the recent escalation in geopolitical tension in West Asia.

BSE Sensex started the session sharply lower at 72,262.05, down over 870 points as compared to the last session's closing of 73,134.31. Nifty 50 started the session at 22,383.40, falling nearly 300 points from the last day's closing of 22,679.

The indices extended the losing momentum further amid broad-based selling. Last seen, Sensex was trading at 71,776.61, down 1357.71 points or 1.86 per cent. Nifty50 was quoted at 22,266.35, down 413.05 points or 1.82 per cent from the previous session's closing.

"With President Trump’s declaration, we are going to hit Iran extremely hard in the next two to three weeks,' market sentiments have again turned negative. Brent crude spiked around 5% to $105, and the US 10-year bond yield again firmed up to 4.36 percent negatively impacting gold and silver prices, though marginally," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

All stocks from the Sensex basket were trading lower with Indigo, Eternal, Sun Pharma, L&T, SBI, Adani Ports, Tata Steel, Trent, NTPC, Ultratech Cement, Mahindra And Mahindra, Kotak Bank and Reliance being the top losers. 

All stocks from the Sensex basket were trading lower with Indigo, Eternal, Sun Pharma, L&T, SBI, Adani Ports, Tata Steel, Trent, NTPC, Ultratech Cement, Mahindra And Mahindra, Kotak Bank and Reliance being the top losers.

At the sectoral front, Nifty Fin Services and Nifty Bank fell over 2.5 per cent. Nifty FMCG, Nifty IT were down over 1 per cent, and Nifty Auto was trading over 2.5 per cent lower. The broader market followed suit as well. Nifty Small Cap 100 and Nifty Midcap 100 were down over 3 per cent. While the Nifty 100 was down 2.3 per cent.


Also In News