Stock market today: Indian stock market benchmarks, the Sensex and the Nifty 50 closed over a per cent lower for the second consecutive session on Monday, April 15. Investors sold off equities across sectors amid rising tensions in West Asia after Iran fired more than 300 missiles and drones on Israel on Saturday, retaliating against a suspected Israeli strike on its embassy in Syria earlier.
The fresh escalation of tensions between Iran and Israel spooked investors as concerns grew that it would disrupt the global supply of commodities, including crude oil and some industrial metals, resulting in a rise in already sticky inflation.
This will also mean that the prospects of Fed rate cuts, which are evident to be delayed beyond June, could be further delayed.
Also Read: 5 biggest concerns around Iran-Israel tensions that could impact Indian stock market
Indian stock market benchmark Sensex opened with a cut of 930 points at its day’s low level of 73,315.16, against its previous close of 74,244.90. The 30-share index finally closed 845 points, or 1.14 per cent, lower at 73,399.78.
The Nifty 50 opened 180 points lower at 22,339.05 against its previous close of 22,519.40 and extended losses to fall as much as 260 points, to hit the day’s low of 22,259.55. The index closed 247 points, or 1.10 per cent, lower at 22,272.50.
The mid and smallcap indices suffered deeper losses. The BSE Midcap index fell 1.50 per cent while the Smallcap index declined 1.54 per cent.
The overall market capitalisation of BSE-listed firms on Monday stood at nearly ₹394.7 lakh crore. Last Thursday, the overall market capitalisation of BSE-listed firms was nearly ₹402.2 lakh crore. This means in just two days, investors got poorer by about ₹7.5 lakh crore.
(More to come)
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Published: 15 Apr 2024, 03:31 PM IST
