Markets fall on weak Asian equities, spike in Brent crude oil prices
The BSE benchmark had dropped 125.65 points or 0.19 per cent to settle at 66,282.74 on Friday. The broader Nifty of NSE fell by 42.95 points or 0.22 per cent to 19,751.05.
Benchmark equity indices declined in early trade on Monday amid weak trends in Asian markets and spike in Brent crude oil prices due to geopolitical tension in the Middle East. Falling for the third day running, the 30-share BSE Sensex declined 243.36 points to 66,039.38. The Nifty slipped 59.2 points to 19,691.85. From the Sensex pack, Nestle, Asian Paints, IndusInd Bank, HDFC Bank,
Kotak Mahindra Bank and Bajaj Finserv were among the major laggards. Tata Motors, HCL Technologies, Axis Bank and Maruti were among the gainers. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.
The US markets ended on a mixed note on Friday. Global oil benchmark Brent crude climbed 0.10 per cent to USD 90.98 a barrel. "Concerns regarding the spread of the Israel-Hamas conflict have triggered the sharp spike in Brent crude to above USD 90 and safe-haven buying has pushed gold to above USD 1900.
"From the geopolitical perspective, we are in uncharted territory and, therefore, prudence demands that investors remain cautious," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth Rs 317.01 crore, according to exchange data.
The BSE benchmark had dropped 125.65 points or 0.19 per cent to settle at 66,282.74 on Friday. The broader Nifty of NSE fell by 42.95 points or 0.22 per cent to 19,751.05.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
10:15 AM IST