Markets continue to slump on fears of escalating tensions in Middle East
The Hindu
Mumbai stock market slumps on Middle East tensions, global trends, and foreign fund outflows, impacting major indices and stocks.
Equity benchmark indices continued to slump in early trade on April 16 on fears of escalating tensions in the Middle East and weak global trends.
Foreign fund outflows and uptick in Brent crude oil prices also dented investors' sentiment.
Continuing its downtrend for the third day running, the 30-share BSE Sensex tanked 585.63 points to 72,814.15. The NSE Nifty declined 168.65 points to 22,103.85.
From the Sensex basket, IndusInd Bank, Infosys, Bajaj Finance, Kotak Mahindra Bank, Bajaj Finserv, NTPC, Tata Consultancy Services, and ICICI Bank were the major laggards.
Titan Company, Mahindra & Mahindra, Nestle, and Maruti were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading lower.
Wall Street ended in negative territory on Monday.
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