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Markets open in red: Sensex plunges nearly 2,000 points, Nifty 2.4% down amid rising crude prices
Unabated foreign fund outflows also dented market sentiments, analysts said.
The Nifty surged 196.65 points, or 0.83 per cent, to end at 23,777.80. (Express Photo)
The 30-share BSE Sensex Thursday opened 1,953.21 points low, or 2.54 per cent down, at 74,750.92 while the 50-share Nifty crashed 580.05 points, or 2.43 per cent to 23,197.75 after a three-day rally amid skyrocketing crude oil prices.
Moreover, weak global trends and unabated foreign fund outflows also adversely affected market sentiments, said market analysts, PTI reported.
Among the 30-Sensex firms, HDFC Bank crashed over 3 per cent after the sudden resignation of Chairman Atanu Chakraborty.
Larsen & Toubro, Axis Bank, Mahindra & Mahindra, Eternal and Bajaj Finance were also among financial institutions that were saw a slow start. The NTPC and Power Grid were the only gainers.
Meanwhile, Brent crude price shot up by 3.77 per cent to $ 111.4 per barrel.
As the war in Middle East escalated, China stocks too tanked on Thursday, joining a broader decline across Asia. The Shanghai Composite index lost 1% to 4,024.23 points, which is close to the lowest level its hit on February 3.
In Asian markets, Japan’s Nikkei 225 index, South Korea’s benchmark Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were trading badly.
The American market ended sharply lower on Wednesday.
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