Stock Market
Markets tumble again! Sensex sinks 600 pts, Nifty nears 24,000 despite drop in Brent crude
Mumbai/IBNS: After a flat opening, the Indian stock market crashed on Wednesday amid mixed global cues against the backdrop of the ongoing West Asia conflict, media reports said.
Giving up marginal early gains, the BSE Sensex plunged over 600 points around 11 am, while the NSE Nifty 50 fell more than 150 points to trade just above the 24,000 mark.
Sectoral indices showed a mixed trend, with auto, banking, FMCG, IT and private bank stocks trading lower, while media, metals, pharma, realty and midcap indices advanced.
Among the Nifty 50 constituents, Max Healthcare Institute, Kotak Mahindra Bank, SBI Life Insurance, Tata Consumer Products, and Bharti Airtel were the biggest losers.
The market had opened on a flat note with a marginal rise as Brent crude slipped below $90 per barrel from a recent high of $120 per barrel.
Auto, tyre and PSU bank stocks benefited from the decline in crude oil prices.
Global markets also witnessed a rise of 2–7 percent after Donald Trump, President of the United States, said the conflict involving Iran may end soon.
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