Sensex, Nifty fall nearly 2 per cent amid US-Iran war
Indian Rupees cash notes and coins and stock markets (money, economy, finance, crisis, inflation)
Indian stock markets ended sharply lower on Monday as rising geopolitical tensions linked to the ongoing US-Iran war weighed on investor sentiment.
Although the indices recovered partially from the day’s lows after crude oil prices eased.
The Nifty settled at 24,028.05, down 422.40 points or 1.73 per cent. The index also officially entered the technical correction zone after falling more than 10 per cent from its record high of 26,373, which it had touched on January 5.
The Sensex ended the day at 77,566.16, falling 1,352.74 points or 1.71 per cent.
Despite the sharp fall, both indices managed to recover from their intra-day lows as oil prices softened during the session.
The Nifty rebounded about 160 points from its day’s low of 23,868.05, while the Sensex recovered nearly 1,142 points from the intra-day low of 76,424.55.
Broader markets performed worse than the benchmark indices during the session. The Nifty MidCap Index ended 1.97 per cent lower, while the Nifty SmallCap Index declined 2.22 per cent.
Among sectoral indices, the Nifty PSU Bank Index was the worst performer, falling 3.97 per cent as selling pressure intensified in public sector banking stocks.
On the other hand, the Nifty IT Index showed relative resilience and managed to close slightly higher, gaining 0.08 per cent to end at 30,162.05.
