Indian markets: Sensex tumbles over 1,000, Nifty slips amid caution
Business
Monday wasn't great for Indian stock markets: Sensex tumbled over 1,000 points at the open before paring losses to around a 575-point decline (73,008.12) by 9:35am and Nifty also slipped.
Even though both managed to claw back some ground later, the mood stayed pretty cautious thanks to a mix of global uncertainty and local economic worries.
Dr VK Vijayakumar flags inflation, deficits
Tensions in West Asia and soaring oil prices (Brent crude is close to $116 a barrel) have investors on edge, raising fears about inflation in India.
Dr. VK Vijayakumar from Geojit Investments summed it up: rising inflation and possible fiscal deficits are now bigger concerns than growth.
Global uncertainties and geopolitical tensions are contributing to market pressure.