BSE,NIFTY drop to 20-month low
The BSE Sensex closed at 24188.37 (down 266.67 points) and the Nifty at 7351 (down 86.80 points).
When the Indian market opened for business on Monday morning, the Asian markets were already down.
Over the weekend, the European oil embargo on the world’s seventh-largest oil producer, Iran, ended after the nuclear deal between Iran, the US and five other world powers took effect. It is expected that the move will end in supply outstripping demand and that oil prices will remain weak.
Shares of Reliance Industries Ltd dipped ahead of the company's expected earnings release on January 18.
On Monday, Bajaj Auto, Cipla, L&T and SBI were the major losers while BHEL, Tata Steel, Adani Ports, TCS and HUL were the top gainers.
Image: Wikimedia Commons
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
