Sensex falls more than 450 points amid commercial tensions between the United States and Iran; Ingenious below 12,100

NEW DELHI: Equity indices began on a lower note on Monday with the benchmark BSE sensex Dive over 400 points amid commercial threats from the United States and Iran. Sensex fell 481 points or 1.16 percent to 40,983; while the broadest NSE Nifty moved 143 points or 1.17 percent down to 12,083.

The main lags in the BSE index include, State Bank of India, Asian Paintings, PowerGrid, Mahindra&mahindra,marutiandsunpharmawiththeirsharesupto3.19percent.

On the NSE platform, with the exception of Nifty IT, all other sub-indices were traded in red with Nifty PSU Bank and Nifty Metal falling to 2.86 percent.

Globally, an indicator of Asian stocks collapsed from a maximum of 18 months, as high tensions in the Middle East sent investors to seek the safety of gold, which reached a maximum of almost seven years, while oil rose at peaks of four months.

The United States detected greater alertness by Iran's missile forces, as US President Donald Trump warned that he would respond, perhaps disproportionately, if Iran attacked any American person or target.

The Iraqi parliament on Sunday recommended that all foreign troops be expelled from the country after the murder of a senior Iranian military commander and an Iraqi militia leader, Qassim Suleimani.

Meanwhile, on a net basis, foreign institutional investors bought shares worth Rs 1,263.05 rupees, while national institutional investors sold shares worth Rs 1,029.20 rupees on Friday, data showed available in stock exchanges.

(With agency contributions)

comments