Punjab Newsline | New Delhi
Amid ongoing conflicts in West Asia and a blockade in the Strait of Hormuz, rising crude oil prices, a weakening rupee, and other adverse factors dragged the Indian stock market sharply lower for the second consecutive trading session. The benchmark indices Sensex and Nifty recorded declines of around 1 percent each.
At the close of trade, the 30-share BSE Sensex fell by 852.49 points, or 1.09 percent, to settle at 77,664. Meanwhile, the NSE Nifty50 slipped 205.05 points, or 0.84 percent, to end at 24,173.05.
Sensex Slides Nearly 1,600 Points in Two Sessions
During the day, the Sensex opened at 77,983.66 but dropped over 823 points, or more than 1 percent, to hit an intraday low of 77,574.18. Similarly, the Nifty opened at 24,202.35 and declined by 243 points, nearly 1 percent, touching a low of 24,134.80.
Over the past two sessions, the Sensex has fallen by nearly 1,600 points, or around 2 percent, while the Nifty50 has also declined by approximately 2 percent.
Broader Markets Also Under Pressure
Broader market indices also witnessed declines during the session. The Nifty Smallcap 100 index dropped 0.67 percent, while the Nifty Midcap 100 index fell 0.41 percent. This comes after the broader indices had managed to close in the green in the previous session despite a decline in the benchmark indices.