Due to renewed tension between the US and Iran and a rise in the price of crude oil, local stock markets fell on Monday and both benchmark indices remained in loss. BSE Sensex fell 372 points, while NSE Nifty lost 110 points. BSE Sensex based on 30 shares closed at 76,728.37 points, falling 372.10 points or 0.48 percent. During trading, at one time it fell by 478.72 points to 76,621.75 points.
Talking about Nifty, NSE Nifty based on fifty shares closed at 23,946.25 points with a decline of 109.75 points or 0.46 percent.
There was a decline in these shares
Among Sensex companies, Kotak Mahindra Bank fell by 3.24 percent. The bank said that its Managing Director and Chief Executive Officer (CEO) Ashok Vaswani will step down after the completion of his three-year tenure. He does not seek re-appointment when his current term ends on December 31, 2026. Apart from this, there was major decline in Mahindra & Mahindra, Maruti, Interglobe Aviation, UltraTech Cement and Larsen & Toubro. On the other hand, stocks in profit include Eternal, Trent, Bharat Electronics and NTPC.
Crude oil came near 73
Global oil standard Brent crude rose 1.51 percent to $ 73.09 per barrel. Ponmudi R, Chief Executive Officer (CEO) of online trading company Enrich Money, said, tension increased rapidly at the global level over the weekend. The US and Iran attacked each other near the Strait of Hormuz before agreeing to ease tensions and resume talks. This limited the damage, but raised serious questions about the sustainability of the agreement. The risk of its breakdown increased, due to which the market remained uncertain and volatile.
Foreign markets also had an impact
In Asian markets, South Korea’s Kospi closed with losses. On the other hand, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng closed with gains. There was a declining trend in the major markets of Europe in afternoon trading. On Friday, American markets closed with a slight decline. According to stock market data, foreign institutional investors (FIIs) had bought shares worth Rs 383.76 crore on Thursday. On Thursday, the Sensex closed at 77,100.47 points, up 109.25 points or 0.14 percent, while the Nifty closed at 24,056 points with a gain of 34.35 points.
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