Sensex Crumbles as Crude Oil Prices Soar
Stock markets in India declined sharply on Monday morning due to rising crude oil prices and ongoing geopolitical tensions in West Asia.
The benchmark indices, Sensex and Nifty, fell by 284.85 points and 69.25 points respectively within the first few hours of trading.
This decline is attributed to Brent crude's steady rise above $88 per barrel following renewed US warnings against Iran on Friday, adding a geopolitical risk premium to energy markets, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Bharat Electronics and Titan were the only companies among Sensex constituents to show gains during this period, while Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, Hindustan Unilever, and State Bank of India suffered losses.