Mumbai. Domestic stock markets fell heavily in early trade on Monday amid rising crude oil prices due to failure of a peace deal between the US and Iran to end the West Asian war. US President Donald Trump has rejected Iran’s response to the latest US peace proposal, calling it “completely unacceptable”, according to an expert.
This has dashed hopes of immediate diplomatic success. BSE Sensex fell 845.68 points to 76,482.51 in early trade while NSE Nifty slipped 237.90 points to 23,936.85. Among the 30 companies included in the Sensex, shares of Titan, InterGlobe Aviation, State Bank of India, Eternal, Bharti Airtel and Mahindra & Mahindra were the biggest losers.
Only NTPC and HCL Tech shares rose. In Asian markets, Japan’s Nikkei 225 and Hong Kong’s Hang Seng are in decline, while South Korea’s Kospi and China’s SSE Composite are trading with gains. American markets closed with gains on Friday.
The price of international standard Brent crude rose by 4.32 percent to reach $ 105.7 per barrel. According to stock market data, foreign institutional investors (FIIs) were sellers on Friday and sold shares worth Rs 4,110.60 crore.
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