Indian equity benchmarks declined sharply in early trade on the second trading day of the week amid global cues and geopolitical tensions. The BSE Sensex fell more than 800 points, while the Nifty 50 slipped below the 22,800 level.
The Sensex opened at 73,282.41, down 824.44 points, while the Nifty 50 declined by 248.95 points to 22,719.30 in early trading.
Shares of Eternel and InterGlobe Aviation declined by around 2% during the session. In the foreign exchange market, the Indian rupee weakened by 17 paise to 93.07 against the US dollar in early trade.
Selling pressure persisted at the open on Tuesday, with the Sensex down 824.44 points at 73,282.41 and the Nifty 50 lower by 248.95 points at 22,719.30. The rupee also declined by 17 paise to 93.07 against the US dollar.
Aviation stocks and select companies recorded declines in the early session, with InterGlobe Aviation falling around 2%, alongside selling pressure in other selected stocks.
Asian equity markets showed a mixed trend on Tuesday. Japan’s Nikkei 225 declined 0.2%, Australia’s S&P/ASX 200 rose 1.5%, South Korea’s Kospi remained nearly flat, and China’s Shanghai Composite gained 0.4%. Markets in Hong Kong were closed due to a holiday.
Global uncertainty and rising oil prices were cited as key factors behind the mixed performance in Asian markets.
Geopolitical tensions in the Middle East remained a major influence on global markets. Investor concerns increased following b statements by Donald Trump regarding Iran.
Oil prices recorded a sharp increase, with US crude at $114.78 per barrel and Brent crude at $111.17 per barrel. These levels are significantly higher than pre-conflict levels of around $70 per barrel, raising concerns over inflation and global economic pressure.
In the United States, equity markets posted modest gains. The S&P 500 rose 0.4%, the Dow Jones Industrial Average advanced 165 points, and the Nasdaq Composite gained 0.5%. This marked the first positive weekly trend for Wall Street in six weeks, although the gains did not reflect in Indian markets.
