PrashantNews
The Indian stock market on Monday continued to bleed as the Sensex plunged 1835.57 points amid the intensifying Middle East war and the sliding rupee.
With both Iran and the US remaining belligerent, Brent crude, the global oil benchmark, jumped 0.97 per cent to USD 113.3 per barrel in the day. But soon the news flash came that President Trump has postponed attacks on Iran’s power and oil facilities which sent the brent crude prices crashing by 13-15 percent. But by the time of the crash in the crude oil price came, the stock market has already closed for the day.
The lingering war, which has entered its fourth week, relentless foreign fund outflows and weakness in the rupee have also turned the sentiments in the Indian stock market weaker, analysts said.
The 30-share BSE Sensex dived 1,836.57 points, or 2.46 per cent, to close at 72,696.39. During the day, it plunged 1,974.52 points, or 2.64 per cent, to 72,558.44. The 50-share NSE Nifty tanked 601.85 points, or 2.60 per cent, to end at 22,512.65.
From the 30-Sensex firms, Titan tumbled the most by 6.24 per cent. Titan faced the brunt of the crash as the stock gave up -256.40 (-6.24 %) to reach 3,851.80, TRENT closed at 3,354.95 (-210.40 -5.90%),
The rupee fell to 93.98 against the U.S. dollar, eclipsing its previous low of 93.7350 hit on Friday. The Indian currency has declined about 3% since the Iran war began on February 28, hurt by an over 50% surge in oil prices and severe disruptions to gas supplies. Analysts said more pain could be in store for the rupee in near future.
Meanwhile Prime Minister Narendra Modi said the West Asia war has set unprecedented challenges for India too cautioning people to remain prepared for any future crisis.

