Sensex, Nifty Fall Today: All 16 major sectors logged losses, with the broader small-caps and mid-caps losing 0.5 per cent each. (Express Photo)
Sensex, Nifty Fall Today: Indian shares opened lower on Monday amid higher oil prices as United States and Iran failed to reach an agreement on the peace proposal, news agency Reuters reported.
The Nifty 50 fell 0.85% to 23,970.10 as of 9:15 am (IST), while the BSE Sensex shed 0.89% to 76,638.09.
The Indian rupee too fell 139 paise to 94.90 against US dollar in early trade, according to PTI.
All 16 major sectors logged losses, with the broader small-caps and mid-caps losing 0.5 per cent each.
Meanwhile, oil prices spiked about 4.33% to about $105.6 per barrel, as of 9:36 am (IST) today, triggered by US President Donald Trump’s rejection of Iran’s reponse to the proposal for peace talks as “unacceptable.”
Trump’s comments have accelerated the risks of supply disruption in global energy markets.
Oil marketing companies such as BPCL, HPCL and Indian Oil fell about 1 per cent each. Travel-linked stocks too declined, Reuters report stated.
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This drop comes after Prime Minister Narendra Modi urged citizens to reduce fuel consumption, limit non-essential foreign travel and gold purchases amid the Iran war.
Jewellery stocks Titan, Senco Gold and Kalyan Jewellers lost between 3% to 4.5% following Modi’s comments on Sunday.
Meanwhile, airline operator Interglobe Aviation lost 3.2%, Reuters reported.
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