By: The Trek News Desk
Monday saw a weak start for Indian equity markets, with both the BSE Sensex and NSE Nifty 50 dropping sharply amid global market turmoil and a steep rise in crude oil prices. Investor confidence was dented as concerns over higher energy costs and international sell-offs weighed heavily on trading.
The 30-stock BSE Sensex fell 2,345.89 points to 76,573.01 in early trade, while the 50-stock Nifty 50 slipped 708.75 points to 23,741.70.
Shares of several major companies faced significant selling pressure. InterGlobe Aviation fell nearly 8 per cent, while other laggards included Tata Steel, Maruti Suzuki, State Bank of India, Asian Paints, and ICICI Bank.
Analysts noted that a sudden spike in global crude oil prices intensified market weakness. Brent crude surged 23.63 per cent to USD 114.59 per barrel, triggering further concerns among investors about rising costs and inflationary pressures.
The negative momentum was mirrored across Asia. South Korea’s KOSPI fell more than 7 per cent, while Japan’s Nikkei 225 dropped around 6.5 per cent. China’s SSE Composite Index and Hong Kong’s Hang Seng Index also traded in the red, reflecting widespread global risk aversion.
The combination of rising energy prices and international market volatility set a cautious tone for Indian markets, signalling a challenging week ahead for investors.
Source: News Agencies
