Selling pressure continued to weigh on Dalal Street on Monday morning as Indian benchmark indices opened sharply lower amid rising geopolitical tensions and surging crude oil prices.
The Nifty 50 opened at 22,549.65, down 269.95 points or 1.18 per cent, while the BSE Sensex slipped to 72,603.07, falling 980.15 points or 1.33 per cent in early trade.
The persistent weakness in the markets comes against the backdrop of escalating conflict in West Asia, which has disrupted global trade routes and energy supply chains. Recent attacks on key energy infrastructure in the region have further dented investor confidence and raised concerns over inflation and economic stability.
Market experts noted that the situation is evolving into a broader global financial risk.
Selling pressure was visible across broader markets as well. The Nifty 100 declined by more than 1 per cent, the Nifty Midcap 100 fell by 1.32 per cent, and the Nifty Smallcap 100 dropped by 1.18 per cent, indicating widespread weakness.
Sectoral indices also traded in the red, with the Nifty Auto falling 1.57 per cent, Nifty IT declining 1.07 per cent, Nifty Media down 1.48 per cent, and Nifty Oil and Gas slipping 1 per cent. The Consumer Durables index also fell by 1.46 per cent.
Other Asian markets also traded in negative territory. Japan’s Nikkei 225 fell by around 5 per cent to 50,950, while South Korea’s KOSPI declined nearly 4 per cent to 5,240. Hong Kong’s Hang Seng dropped 1.69 per cent to 24,533, Taiwan’s Weighted Index fell 1.86 per cent to 32,488, and Singapore’s Straits Times Index slipped 0.26 per cent to 4,885.
Meanwhile, Brent crude prices surged to USD 115 per barrel, intensifying concerns over inflationary pressures and a potential global economic slowdown.
In the commodities segment, gold prices recovered slightly, with 24-karat gold trading at Rs 1,43,772 per 10 grams. However, silver prices remained under pressure at Rs 2,27,094 per kg.
In the US markets on Friday, major indices ended lower. The Dow Jones Industrial Average declined 1.73 per cent to close at 45,166, while the S&P 500 fell 1.67 per cent to 6,368. The Nasdaq dropped more than 2 per cent to settle at 20,948. (ANI)
