Sensex, Nifty suffer 4th straight loss in line with weak global cues


Photo source: PTI (file)

The benchmark Brent crude was down .4 91.43 a barrel

Domestic equity gauges Sensex and Nifty entered their fourth consecutive fall session on Monday as participants were wary of protracted geopolitical tensions in Eastern Europe.

Tracking deeper losses in Asian stocks, the BSE Sensex plunged nearly 700 points in the opening session but recovered to trade briefly in positive territory as market tremors calmed down in hopes of talks between the United States and Russia over the Ukraine crisis.

The Sensex ended 149.38 points, or 0.26 per cent, lower at 57,683.59, while the broader NSE Nifty fell 69.65 points, or 0.40 per cent, to 17,206.65.

Among the Sensex components, 21 stocks ended in red, followed by Sun Pharma, TCS and ITC. In contrast, IT major Wipro and Infosys were the main beneficiaries.

Elsewhere in Asia, reports of a possible meeting between US President Joe Biden and Russian President Vladimir Putin have reduced bids at their inaugural session but caused deep losses.

Biden agreed in a meeting with Putin “in principle” until the country convinced U.S. officials of an imminent attack on Ukraine.

White House Press Secretary Jane Sackie said the administration has made it clear that “we are committed to pursuing diplomacy until the attack begins.”

The benchmark Brent crude was down .4 91.43 a barrel. On the forex market front, the rupee rose 11 paise to close at 74.55 against the US dollar on Monday. Continuing their selling trend, foreign institutional investors offloaded shares worth Rs 2,529.96 crore in the Indian capital market on Friday, exchange data shows.

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