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Equity benchmark indices Sensex and Nifty fell sharply in early trade, tracking global market weakness amid rising geopolitical tensions and a surge in crude oil prices. The decline follows stalled US-Iran negotiations and concerns over disruptions in the Strait of Hormuz, pushing Brent crude above USD 100 per barrel. All Sensex stocks opened in the red, with key sectors facing selling pressure. Asian markets also traded lower, reflecting cautious investor sentiment. Analysts highlight that higher oil prices could impact inflation and corporate earnings. Despite this, foreign institutional investors remained net buyers in the previous session.
Equity benchmark indices Sensex and Nifty declined sharply in early trade on Monday, tracking global market weakness amid rising geopolitical tensions and a surge in crude oil prices. Advertisement
The 30-share BSE Sensex fell 1,613.09 points to 75,937.16, while the NSE Nifty dropped 495 points to 23,555.60 during initial trading hours.
The market downturn follows the failure of negotiations between the United States and Iran, raising concerns over a prolonged conflict. The talks, which extended for 21 hours, ended without an agreement, putting the status of a temporary ceasefire at risk.
Investor sentiment was further impacted by reports of a US naval blockade in the Strait of Hormuz, a key global oil transit route. The development has led to a spike in crude oil prices, with Brent crude rising 7.33 per cent to USD 102.2 per barrel.
All Sensex-listed companies were trading in negative territory in early trade. Stocks such as Titan, Sun Pharma, NTPC, Bharat Electronics, Power Grid, and Bharti Airtel were among the major decliners.
Analysts noted that the rise in crude oil prices could pose risks to both the economy and equity markets. Higher oil prices typically increase input costs and inflationary pressures, impacting corporate earnings and investor outlook.
Asian markets also reflected the cautious sentiment. Key indices, including Japan's Nikkei 225, South Korea's Kospi, Shanghai's SSE Composite, and Hong Kong's Hang Seng, were trading lower.
In the US, markets ended on a mixed note in the previous session, indicating uncertainty among global investors.
Despite the broader market weakness, Foreign Institutional Investors (FIIs) were net buyers on Friday, purchasing equities worth INR 672.09 crore, according to exchange data.
In the previous trading session, Indian markets had closed higher, with the Sensex gaining 918.60 points to settle at 77,550.25 and the Nifty rising 275.50 points to 24,050.60.
The latest developments highlight the impact of global geopolitical events on domestic markets, particularly through fluctuations in crude oil prices and investor sentiment.
Source: PTI
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