Categories: Business

Stock Market crash: Sensex, Nifty slump in early trade as conflict deepens between Israel and Iran

From the 30 Sensex firms, Tata Motors, Asian Paints, Larsen & Toubro, Axis Bank, Mahindra & Mahindra, Reliance Industries, Maruti, Kotak Mahindra Bank, ICICI Bank and HDFC Bank were the major laggards. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty tanked in early trade on Thursday (October 3, 2024), dragged by a decline in heavyweight stocks Reliance Industries, HDFC Bank, and ICICI Bank and spiralling conflict in the Middle East.

The Bombay Stock Exchange (BSE) Sensex tumbled 1,264.2 points to 83,002.09 in early trade. The National Stock Exchange (NSE) Nifty slumped 345.3 points to 25,451.60.

From the 30 Sensex firms, Tata Motors, Asian Paints, Larsen & Toubro, Axis Bank, Mahindra & Mahindra, Reliance Industries, Maruti, Kotak Mahindra Bank, ICICI Bank and HDFC Bank were the major laggards. JSW Steel, Tata Steel, Sun Pharma and NTPC were among the gainers.

In Asian markets, Hong Kong traded lower while Tokyo quoted in the positive territory. Markets in mainland China will be closed for the rest of the week due to a holiday.

The United States markets ended marginally higher on Wednesday (October 2, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,579.35 crore on Tuesday (October 1, 2024), according to exchange data.

Global oil benchmark Brent crude climbed 1.15% to $74.75 a barrel.

“In Tuesday’s trade, FIIs were net sellers of ₹5,579 crore, while crude oil prices surged above $70 per barrel amid escalating tensions in the Middle East,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Limited.

Equity markets were closed on Wednesday (October 2, 2024) for Mahatma Gandhi Jayanti.

The BSE benchmark dipped 33.49 points, or 0.04%, to settle at 84,266.29 on Tuesday (October 2, 2024). The Nifty ended marginally lower by 13.95 points, or 0.05%, to 25,796.90.

News Today

Recent Posts

It’s meaning if you have to vote with one

2024-11-06 06:55:02 More than 8 million voters in Florida have cast their ballot, with millions…

18 mins ago

NEW: Fake Democratic sample ballots distributed at Alexandria polling location

2024-11-06 06:45:03 Sample ballot with Arlington Democrats header and Republican candidate Jerry Torres marked (staff…

28 mins ago

Instant analysis of Packers trading DE Preston Smith to Steelers

2024-11-06 06:35:03 Age, production, the young talent behind him on the depth chart and recent…

38 mins ago

Bengals Trade For Khalil Herbert From Bears

2024-11-06 06:25:02 According to multiple reports Tuesday morning, the Bengals added to their running back…

48 mins ago

How Donald Trump and Kamala Harris could reach 270 electoral votes

How Donald Trump and Kamala Harris could reach 270 electoral votes - CBS News Watch…

58 mins ago

Opinion: Issue 1 Pros and cons

2024-11-06 06:10:02 Election Day is here.Issue 1 one of the most consequential measures Ohioans will…

1 hour ago