Indian Market Indian market tanks over 800 points amid escalating tension between Israel-Iran
Amidst rising geo-political tension and higher-than-expected US inflation, the stock markets on Monday tanked right from word go and ended the day with a loss of over 845 points to settle at 73399.78.
All major indices including Nifty Bank, Nifty Midcap, Nifty 100 and others ended in red. Even better than expected financial performance by IT major Tata Consultancy Limited couldn’t save the day. TCS pared early gains and ended lower 1.50 per cent.
Heavy sell off was witnessed after Iran's attack on Israel. Even, Asian Market were also impacted.
The National Stock Exchange (NSE) slipped 246.90 points at 22,272.50.
Foreign Institutional Investors (FIIs) were net sellers on Friday as they sold equities worth Rs 8027 crore. Today also they remained net sellers.
Although the economic indicators, trade data and wholesale inflation, remained on expected line but will it help market to recover tomorrow is yet to be seen.
The equity market opened in red, as the Sensex slumped 929 points at 73,315.16, which was days low, before closing at 73399.78, down 845.12 points from its previous close.
The stocks that dragged the market were BSE services by 2.12 per cent followed by Bankex by 1.55 per cent, Capital Goods by 1.49 per cent and Power by 1.44 per cent. The Mid cap fell by 1.50 per cent and Small Cap by 1.54 per cent.
In 30 scrips index, 3 advanced while 27 declined.
The losers included Wipro, ICICI bank Bajaj Finserv, Bajaj Finance and Tata Motors among other. While the shares which gained were Nestle India Ltd, Maruti Suzuki and Bharti Airtel.
(With UNI Inputs)
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