Commodities
Sensex Plunges 730 Points Amid Crude Oil Price Surge and Geopolitical Uncertainties
The Indian stock market took a hit on Monday, with the Sensex plummeting by 730 points to 73,170.12 in early trade.
The Nifty also dropped 231.50 points to 22,908.95, with all 30 Sensex firms trading lower.
Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, Bajaj Finserv, Hindustan Unilever, Mahindra & Mahindra, Larsen & Toubro, and Bharat Electronics were among the major laggards.
The surge in crude oil prices and geopolitical uncertainties weighed on investor sentiment, with Brent crude trading 2.27% higher at $106.7 per barrel.
Ponmudi R, CEO of Enrich Money, said that Indian equity markets are likely to remain cautious due to renewed geopolitical uncertainty and a rebound in crude oil prices.