Benchmark equity indices Sensex and Nifty crashed throughout the session on Monday and ended the first trading day of the week in deep red. Sentiment among investors remained pessimistic as the West Asia war showed no signs of slowing down anytime soon.
Both benchmarks bled nearly 3 per cent during the session, tracking steep losses in Asian markets. The BSE Sensex ended trading around 72,700, crashing nearly 1,900 points, and the NSE Nifty50 closed the day near 22,500, plummeting more than 600 points.
On the 30-share Sensex, HCL Tech, PowerGrid, and Tech M emerged among the only gainers in the session. Meanwhile, the laggards included Titan, Trent, UltraTech Cement, BEL, and Tata Steel. Both Titan and Trent stocks crashed more than 6 per cent in the day.
Investor sentiment remained under pressure as the conflict entered its fourth week, fuelling concerns over global stability and energy supply disruptions.
Oil Price Surge, Rupee Weakness Weigh
Markets were dragged lower by a combination of macro headwinds, including rising crude oil prices, continued depreciation in the rupee and sustained foreign fund outflows.
Brent crude, the global oil benchmark, rose 1.24 per cent to $113.6 per barrel, keeping concerns elevated around inflation and input costs for oil-importing economies like India.
Persistent FII Outflows Continue
Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 5,518.39 crore on Friday, according to exchange data.
Domestic Institutional Investors (DIIs), however, provided some support by buying stocks worth Rs 5,706.23 crore.
So far this month, foreign investors have pulled out Rs 88,180 crore (around $9.6 billion) from Indian equities, reflecting a sustained risk-off approach.
In the previous session on Friday, the Sensex had gained 325.72 points, or 0.44 per cent, to settle at 74,532.96, while the Nifty advanced 112.35 points, or 0.49 per cent, to close at 23,114.50.
