Indian Stock Market Declines on Rising Crude Oil Prices and Geopolitical Tensions
The Indian stock market ended lower on Monday as crude oil prices rose and geopolitical tensions persisted in West Asia. The Sensex declined by 281.09 points, or 0.36 per cent, to settle at 77,728.16. During the day, it dropped 555.5 points, or 0.71 per cent, to 77,453.75. The Nifty was down 78.35 points, or 0.32 per cent, to end at 24,287.65.
Ponmudi R, CEO of Enrich Money, said that Indian equity markets ended marginally lower on Monday, extending last week's cautious tone as uncertainty surrounding the US-Iran conflict kept investors on the sidelines. Brent crude climbed 1.11 per cent to USD 89.50 per barrel.
The Sensex pack had Infosys, HCL Tech, Sun Pharma, Tata Consultancy Services, Tech Mahindra, and ITC among its biggest laggards. On the other hand, Tata Steel, Axis Bank, Reliance Industries, and Bharat Electronics were among the winners. Foreign Institutional Investors bought equities worth Rs 508.12 crore on Friday.