Market Crash / Sensex, Nifty Tumble 2% Amid Weak Global Cues After Failed US-Iran Negotiations
·2 hours ago·2 min read
Key Points
Sensex plunged 1,675 points (2.16%) to 75,874, while Nifty fell 500 points (2.05%) to 23,555 amid weak global cues after US-Iran peace talks failed.
Mumbai, Apr 13: Domestic equity benchmarks traded sharply lower Monday, falling about 2% each amid weak global cues after the United States and Iran failed to make progress on peace talks.
Sensex plunged as much as 2.16 per cent or 1,675 points to 75,874.85, hitting an intraday low in early trade, while Nifty traded at 23,555, down around 500 points or 2.05 per cent, amid selling pressure in banking and financial, realty, auto and energy stocks.
Eicher Motors, Maruti Suzuki, Shriram Finance, Bajaj Finance and HDFC Bank were among the top losers. All sectoral indices traded in the red.
Category-wise, small-cap indices dropped the most, with the Nifty Smallcap 100 trading 2 per cent lower and the Nifty Smallcap 250 down 2 per cent, following declines in midcap and large-cap scrips.
Moreover, the India VIX, the volatility index, was trading more than 13 per cent higher.
Analysts said global sentiment has turned sharply risk-averse, following renewed escalation in geopolitical tensions.
According to them, this development is critical, as the Hormuz route carries a significant portion of global oil supply. Crude oil prices, which had corrected from above $110 to the $94–100 range, have now surged back above $105, reintroducing inflationary and macroeconomic concerns.
Also Read: Big Moves by RBI: Govt Securities Auction & Export Boost Till 2026
They further added that for India, the implications are immediate and significant. With over 85 per cent of crude oil imports dependent on this route, rising oil prices could pressure the current account deficit, weaken the rupee, and elevate inflation expectations.
“Volatility is expected to remain high through the week, especially with ongoing geopolitical developments, inflation data, and earnings announcements acting as near-term triggers,” they said.
In addition, Brent crude futures traded at $103.40 per barrel, up 8.61 per cent, while US WTI crude jumped 9.38 per cent to $105.63.
In Asian markets, major indices traded in negative territory, with the Nikkei declining over 1 per cent, the Hang Seng down 1 per cent, and the KOSPI plunging more than 1 per cent.
Wall Street ended on a mixed note, with the S&P 500 settling 7 points, or 0.11 per cent lower, while the Nasdaq finished 80 points, or 0.35 per cent higher.
(IANS)
Sensex plunged as much as 2.16 per cent or 1,675 points to 75,874.85, hitting an intraday low in early trade, while Nifty traded at 23,555, down around 500 points or 2.05 per cent, amid selling pressure in banking and financial, realty, auto and energy stocks.
Eicher Motors, Maruti Suzuki, Shriram Finance, Bajaj Finance and HDFC Bank were among the top losers. All sectoral indices traded in the red.
Category-wise, small-cap indices dropped the most, with the Nifty Smallcap 100 trading 2 per cent lower and the Nifty Smallcap 250 down 2 per cent, following declines in midcap and large-cap scrips.
Moreover, the India VIX, the volatility index, was trading more than 13 per cent higher.
Analysts said global sentiment has turned sharply risk-averse, following renewed escalation in geopolitical tensions.
According to them, this development is critical, as the Hormuz route carries a significant portion of global oil supply. Crude oil prices, which had corrected from above $110 to the $94–100 range, have now surged back above $105, reintroducing inflationary and macroeconomic concerns.
Also Read: Big Moves by RBI: Govt Securities Auction & Export Boost Till 2026
They further added that for India, the implications are immediate and significant. With over 85 per cent of crude oil imports dependent on this route, rising oil prices could pressure the current account deficit, weaken the rupee, and elevate inflation expectations.
“Volatility is expected to remain high through the week, especially with ongoing geopolitical developments, inflation data, and earnings announcements acting as near-term triggers,” they said.
In addition, Brent crude futures traded at $103.40 per barrel, up 8.61 per cent, while US WTI crude jumped 9.38 per cent to $105.63.
In Asian markets, major indices traded in negative territory, with the Nikkei declining over 1 per cent, the Hang Seng down 1 per cent, and the KOSPI plunging more than 1 per cent.
Wall Street ended on a mixed note, with the S&P 500 settling 7 points, or 0.11 per cent lower, while the Nasdaq finished 80 points, or 0.35 per cent higher.
(IANS)
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