MENU SEARCH
Tags: Economy | Mumbai | India | indices | BSE | Sensex | NSE

Stock Markets: Sensex, Nifty crash as crude prices soar

Stock Markets: Sensex, Nifty crash as crude prices soar

Monday, 07 March 2022

Mumbai: India's key indices -- S&P BSE Sensex and NSE Nifty50 -- fell sharply during the opening session on Monday amid skyrocketing crude oil prices.

Notably, the Ukraine crisis pushed Brent crude oil price to $130 a barrel on Monday.

The trend is expected to trigger an inflationary trend and ultimately a reversal in monetary policy stand.

Besides, it has accelerated FIIs' selling in the Indian equity market.

Consequently, at 10 a.m., Sensex was 2.79 per cent or 1,515.98 points down at 52,817.83 points from its previous close.

The Nifty traded lower by 2.83 per cent or 459.95 points down at 15,785.40 points.

"On Monday, Indian markets fell for the third day in a row amid rising geopolitical tensions after Ukrainian officials announced Russian forces had taken control of the Zaporizhzhia nuclear power station," said Likhita Chepa, Senior Research Analyst, CapitalVia Global Resaerch.

"Brent Crude rose above $130 per barrel in early trade, the most since 2008, amid heightened geopolitical tensions, and markets began with a gap-down today."

© 2022 IANS. All rights reserved.

Business
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- fell sharply during the opening session on Monday amid skyrocketing crude oil prices.
Mumbai, India, indices, BSE, Sensex, NSE, Nifty 50, crude, oil, Brent, Ukraine, crisis, Russia, Indian equity market, Nifty
168
2022-53-07
Monday, 07 March 2022
Newsmax Media, Inc.
 
TOP

You are browsing the Beta Experience of Newsmax India. We hope you enjoy your time here.

Newsmax and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax India are trademarks of Newsmax Media, Inc.

NEWSMAX.IN
Real News for Real People
© Newsmax Media, Inc.
All Rights Reserved