Fears Of Growing Tensions In Middle East Cause Markets To Plummet For Third Day

Equity benchmark indices Sensex and Nifty fell further on Tuesday, pulled down by heavy selling in IT stocks amid weak global trends and fears of growing tensions in the Middle East.

The outflow of foreign funds also dampened investors’ sentiment.

The 30-share BSE Sensex dipped 456.10 points or 0.62 percent to 72,943.68. During the day, it dropped 714.75 points or 0.97 percent to 72,685.03.

The NSE Nifty sank 124.60 points or 0.56 percent to 22,147.90.

Infosys, PNB, IndusInd Bank, LTIMindtree, Cholamandalam Invest, Berger Paints, Bank Of Baroda, Wipro, Bajaj Finserv, and Tech Mahindra were the top laggards.

Among the gainers were Eicher Motors, Samvardhana Motherson, HAL, JIO Financial Serv., Vedanta, Adani Power, and Ambuja Cement.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong all closed lower.

European markets were trading in the red.

US markets closed in negative territory on Monday.

Brent crude gained 0.26 percent to USD 90.62 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 3,268 crore on Monday.

On Monday, the Sensex slid 845.12 points or 1.14 percent to 73,399.78, while the NSE Nifty slipped 246.90 points or 1.10 percent to 22,272.50.

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