The Bombay Stock Exchange Sensex index declined by more than 1,500 points during early trade on Monday due to the slowdown in global markets. came.
Mumbai. The Bombay Stock Exchange’s Sensex index fell by more than 1,500 points during early trade on Monday due to a slowdown in global markets. During this period, due to rising outbreak of Corona virus and a sharp fall in the prices of crude oil, there was pressure on the market.
Brent crude futures, the global oil benchmark, fell nearly 30 percent to $ 32.11 a barrel. In the energy market, there was no consensus between the major oil producing countries to control prices and after this the major exporter Saudi Arabia started the price war.
The decline in the BSE Sensex continued on Monday as well and the 30-share Sensex lost 1515.01 points or 4.03 percent to close at 36,061.61 in early trade. Similarly, the NSE Nifty lost 417.05 points or 3.80 percent to 10,572.40. In the previous session, the BSE had lost 893.00 points and the Nifty had lost 279.55 points.
On a gross basis, foreign institutional investors sold equities worth Rs 3,594.84 crore, while domestic institutional investors made net purchases of Rs 2,543.78 crore, according to the stock market data. ONGC saw the biggest 11 percent decline in Sensex. IndusInd Bank, RIL, PowerGrid, Tata Steel, L&T, SBI and Tech Mahindra were also trading in the red mark. The only Sun Pharma stock rose.
Traders said that in view of the steep fall in oil prices and the environment of uncertainty at the global level, investors are taking a cautious approach in the domestic market. He said the market sentiment had a negative impact on the outflow of foreign funds. Businesses said concerns were being raised about the stability of the country’s banking sector in view of the Yes Bank crisis. The Shanghai stock market was 2.41 percent, in Hong Kong. The decline was 3.53 percent, Seoul 3.89 percent and Tokyo 5.65 percent.