Mumbai: Stock market benchmark indices Sensex and Nifty ended lower Monday as elevated crude oil prices, escalation in US-Iran hostilities and concerns over a possible US interest rate hike weighed on investor sentiment.
The 30-share BSE Sensex dropped 382.62 points, or 0.50 per cent, to settle at 76,132.81. During the day, it tanked 544.91 points, or 0.71 per cent, to 75,970.52.
The 50-share NSE Nifty declined 118.55 points, or 0.50 per cent, to end at 23,779.15.
Among the 30 Sensex firms, Infosys, Tech Mahindra, Tata Steel, Bajaj Finserv, UltraTech Cement and Tata Consultancy Services were the major laggards.
Larsen & Toubro, Bharti Airtel, Maruti and Power Grid were among the winners.
Brent crude, the global oil benchmark, climbed 0.61 per cent to USD 96.87 per barrel.
“Indian equity markets ended lower as elevated crude oil prices and persistent geopolitical uncertainty continued to weigh on investor sentiment. Markets remained under pressure throughout the session amid sustained risk-off positioning,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
In Asian markets, South Korea’s Kospi jumped 4.61 per cent and Japan’s Nikkei 225 index climbed 2.12 per cent. Shanghai’s SSE Composite index ended marginally higher, while Hong Kong’s Hang Seng index settled lower.
Markets in Europe were trading on a mixed note. US markets ended in the negative territory on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,111.94 crore on Friday, according to exchange data.
On Friday, the Sensex climbed 362.57 points, or 0.48 per cent, to settle at 76,515.43. The Nifty, however, saw a modest rise of 24.25 points, or 0.10 per cent, to end at 23,897.70.
