Sensex falls over 800 points as Nifty slips below 23,200
Indian stock markets got off to a rough start this Monday, dropping sharply as global tensions and rising oil prices spooked investors.
Sensex fell by more than 800 points and Nifty slipped below 23,200, with worries about inflation and an economic slowdown hanging in the air.
Iran missiles push Brent above $96
Middle East tensions escalated after Iran launched missiles at Israel, pushing Brent crude above $96 a barrel, bad news for countries like India that imports lots of oil.
Plus, weak signals from global markets (including a big Nasdaq dip last week) added to the pressure.
realty, IT, and metal stocks took the biggest hits; Mahindra & Mahindra and Tata Steel saw notable losses.
Sun Pharma was one of the few bright spots with a slight gain.
Investors are keeping an eye on oil prices and world events to see what happens next.