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Stock markets slump on rising tensions in West Asia, higher oil prices

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Benchmark indices were trading lower on Monday, with the Sensex and Nifty coming under pressure amid escalating geopolitical tensions in West Asia and a surge in crude oil prices. Weak cues from Asian markets further dampened investor sentiment, weighing on domestic equities in early trade.

At 10:25 hours, the 30-share benchmark index was trading at 77315.75 down by -253.64 points or by -0.33 % and then NSE Nifty was at 24114.15 down by -92.75 points or by -0.38 %.

Sensex touched intraday high of 77317.66 and intraday low of 76857.43 The NSE Nifty touched intraday high of 24128.8 and intraday low of 24000.2

The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2117.90,+2.36%), HCL Technologies Ltd. (Rs. 1177.75,+1.30%), NTPC Ltd. (Rs. 346.80,+0.67%), Power Grid Corporation of India Ltd. (Rs. 284.95,+0.62%), Mahindra & Mahindra Ltd. (Rs. 1459.50,+0.28%), among others.

The top losers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 187.20,-2.07%), InterGlobe Aviation Ltd. (Rs. 5217.35,-1.76%), Bajaj Finserv Ltd. (Rs. 1891.25,-1.27%), Sun Pharmaceutical Industries Ltd. (Rs. 1913.40,-1.13%), UltraTech Cement Ltd. (Rs. 11587.70,-1.07%), among others.

IT index was at 27436.57 up by 224.64 points or by 0.83%. 63 Moons Technologies Ltd. (Rs. 769.55,+13.54%), Genesys International Corporation Ltd. (Rs. 351.70,+7.93%), Zensar Technologies Ltd. (Rs. 541.50,+6.63%), Affle 3I Ltd. (Rs. 1574.85,+6.38%), Happiest Minds Technologies Ltd. (Rs. 406.20,+5.17%),.

Metal index was at 40452.59 down by -364 points or by -0.89%. Tata Steel Ltd. (Rs. 187.20,-2.07%), Jindal Steel Ltd. (Rs. 1031.50,-1.91%), Steel Authority of India (SAIL) Ltd. (Rs. 165.75,-1.37%), NMDC Ltd. (Rs. 83.84,-1.23%), Jindal Stainless Ltd. (Rs. 707.80,-1.13%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4197 , shares advanced were 2096 while 1844 shares declined and 257 were unchanged.