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India Stocks Plunge as US-Iran Talks Stall
13 Apr
Summary
- Indian stock markets experienced a significant downturn on Monday.
- Global oil benchmark Brent crude saw a substantial surge in price.
- All Sensex firms traded lower during initial market hours.
Indian stock markets experienced a sharp decline on Monday, as a critical round of talks between Iran and the United States in Pakistan's Islamabad concluded without an agreement.
At the market opening, the benchmark S&P BSE Sensex saw a 2.08% drop, reaching 75,937.20 points. The NSE Nifty also fell by 1.92% to 23,589 points. During the initial trading hours, all 30 companies listed on the Sensex were trading lower, with significant drops observed in stocks like Titan, Sun Pharma, and NTPC.
Adding to the market's volatility, global oil prices surged. The Brent crude benchmark climbed 7.33% to trade at $102.2 per barrel. Later in the day, around 12:27 pm, the Sensex was still trading 1.02% lower at 76,760.32 points. At this time, 25 out of the 30 Sensex firms were experiencing losses, with HDFC Bank, IndiGo, and Reliance among the biggest laggards.
