Sensex tumbles over 700 points on global cues
The impact of ongoing geopolitical tension between the US and Iran on the domestic stock market is clearly visible. The Sensex fell by 700 points during the day’s trading. At the same time, the Nifty fell to 210 points. The stock market is undergoing decline since this morning.
Today, Sensex has lost 500 points in early trade, while Nifty is also trading with a decline of 150 points. Only last week, critics had said that if tensions rise, then the foreign markets as well as domestic markets could be seen to decline. Apart from this, investors will also be eyeing the trade war between the US and China. In this regard, a theoretical agreement has been reached between the two countries, but due to the non-disclosure of the details so far, there is an increasing fear among investors.
The major Sensex index of the Bombay Stock Exchange lost nearly 450 points during early trading on Monday. According to traders, markets are under pressure due to increasing tension in West Asia. The 30-share Sensex index of BSE was down by 449.67 points at 41,014.94 in early trade, while the NSE Nifty index fell by 144.45 points to 12,082.20.
According to traders, the Asian market opened to pressure due to fears that Iran would avenge the death of its chief military commander Qasem Soleimani and US President Donald Trump’s warning to Iran, which also had an impact on Asian markets.
On Monday (January 6), SBI saw the biggest decline in Sensex in early trade at 2.91 percent. Apart from this, Asian Paints, Powergrid, Maruti, Mahindra & Mahindra, Tata Steel, NTPC, ICICI Bank and HDFC saw a decline. However, Titan, TCS, HCS Tech, Infosys and Tech Mahindra were in the green.
