Sensex Down 455 Points, Nifty Slips 0.4% As Iran War Concerns Keep Crude Oil Prices Elevated; India VIX Rises
· Free Press Journal
Indian equity markets began the week on a cautious note on Monday, extending the weakness seen last week as uncertainty over the Iran war kept crude oil prices elevated.
At around 10:30 am, the Sensex was down 455 points, or 0.58%, at 77,554, while the Nifty declined 112 points, or 0.46%, to 24,253.
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Earlier, both the indices opened lower. While Sensex opened lower by 117 points, Nifty started the session lower by 23 points.
On the National Stock Exchange, 1,862 stocks out of 3,285 were trading lower. Information technology stocks were among the top losers.
Top-10 Firms Lose ₹1 Lakh Crore In Market Value, TCS Takes Biggest Hit As Sensex And Nifty FallThe stock of Tata Consultancy Services was down 1.5%, followed by Infosys, HCLTech and Wipro.
On the other hand, HDFC Life was the biggest gainer with a rise of almost 1%.
Crude prices, global cues weigh on markets
Brent crude was trading around $89 a barrel, rising 0.5% during the session. Continued tensions between Iran and the US have raised concerns over prolonged high fuel prices, adding pressure to investor sentiment.
Global market signals also remained subdued. MSCI’s broad Asia-Pacific index excluding Japan was largely flat, while Japan’s Nikkei 225 gained 0.4%. Australia’s benchmark fell 0.3%. US equity futures were marginally positive, with S&P 500 futures up 0.1% and Nasdaq futures gaining 0.2%.
India VIX rises, analysts see limited upside
The India VIX, a key measure of expected market volatility, climbed more than 2% to 11.54, pointing to greater uncertainty among investors.