The Sensex fell almost 500 points due to rising tensions in the Middle East - watsupptoday.com
The Sensex fell almost 500 points due to rising tensions in the Middle East
Posted 09 Oct 2023 05:23 PM

Image Source: Agencies

Stock indices Sensex and Nifty fell nearly 1 percent on Monday as investors pulled out of financial, power and energy stocks overseas amid tensions in the Middle East and rising crude oil prices.
Investors stayed on the sidelines because of the huge uncertainty caused by the conflict between Israel and Hamas and refrained from taking big risks, analysts said.
The 30-share BSE Sensex was down 483.24 points, or 0.73 percent, at 65,512.39. The Nifty fell 141.15 points, or 0.72 percent, to end at 19,512.35.
Only three Sensex stocks traded in the green, while 43 Nifty-50 stocks ended in the red. Mahindra and Mahindra led the Sensex pack with 2.05 percent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan.
However, IT majors HCL Technologies and TCS defied the trend and rose 1.02 percent and 0.47 percent respectively. FMCG company Hindustan Unilever rose 0.32 percent.
Investors also traded cautiously ahead of macroeconomic data due this week.

Industrial production and manufacturing data for August are scheduled to be released on October 12. September inflation and wholesale price index (WPI) figures will be released on October 13.
On Friday, India's central bank left its key interest rate unchanged and said it would keep liquidity tight, using bond sales to bring prices closer to the target.
Elsewhere in Asia, the Hang Seng was 0.19 percent higher. The Shanghai Composite index fell 0.41 percent, while Taiwan's T SEC 50 index rose 0.28 percent. The Japanese stock market was closed on Monday. European markets were mixed. Germany's DAX fell 0.50 percent and France's CAC 40 fell 0.27 percent. London's FTSE 100 index was 0.26 percent higher.
US markets ended higher on Friday, with the S&P 500 index up 1.18 percent and the Dow Jones Industrial Average up 0.87 percent.
Meanwhile, global oil Brent crude rose sharply, 3.32 percent, to $87.39 a barrel on Monday. Foreign institutional investors (FIIs) offloaded stocks worth Rs 90.29 billion on Friday, according to stock exchange data.
The BSE index gained 364.06 points or 0.55 percent to settle at 65,995.63 points on Friday. The Nifty gained 107.75 points or 0.55 percent to end at 19,653.50.

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