Sensex drops 382 points amid elevated crude prices, US interest-rate hike fears
The 30-share BSE Sensex drops 382.62 points, or 0.5 per cent, to settle at 76,132.81, with 23 of its constituents ending lower and 7 with gains
Benchmark stock index Sensex dropped by 382 points on Monday due to selling in metal, IT and oil and gas shares amid rising crude prices, escalation in US-Iran hostilities and fears of a US rate hike.
The 30-share BSE Sensex dropped 382.62 points, or 0.5 per cent, to settle at 76,132.81, with 23 of its constituents ending lower and seven with gains. During the day, it declined 544.91 points, or 0.71 per cent, to a low of 75,970.52.
The 50-share NSE Nifty declined 118.55 points, or 0.5 per cent, to end at 23,779.15, dragged by losses in Infosys, Reliance Industries and State Bank of India.
Among the 30 Sensex firms, Infosys fell the most by 3.81 per cent. Tech Mahindra fell by 1.96 per cent, Tata Steel by 1.85 per cent, Bajaj Finserv by 1.57 per cent, UltraTech Cement by 1.41 per cent and Tata Consultancy Services by 1.28 per cent.
Larsen & Toubro, Bharti Airtel, Maruti and Power Grid were among the winners.
Crude oil prices breached USD 97 per barrel due to fresh US-Iran attacks in the Strait of Hormuz. Global oil benchmark Brent crude gained more than 1 per cent to trade at USD 97.41 per barrel.
