Punjab Newsline | Mumbai
Domestic stock markets opened sharply lower on Monday after Prime Minister Narendra Modi urged citizens to use petroleum products like petrol, diesel and gas more cautiously amid rising global energy tensions and concerns over crude oil supply disruptions.
In early trading, the BSE Sensex crashed 845.68 points to 76,482.51, reflecting widespread selling across major sectors. Meanwhile, the NSE Nifty fell 237.90 points to 23,936.85, slipping below the key 23,950 level.
Market analysts linked the decline to investor concerns over the possible economic impact of higher energy costs and fears of pressure on inflation and corporate earnings. Weak global cues and uncertainty in crude oil markets also added to the negative sentiment on Dalal Street.
The sharp fall comes at a time when global markets are closely monitoring developments in West Asia and the potential impact on energy supply chains.
