Sensex, Nifty tumble nearly 3% amid weak global markets, elevated oil prices
The Hindu
Meanwhile, international oil benchmark Brent crude surged 8.84% to $128.6 a barrel
Equity benchmarks Sensex and Nifty tumbled nearly 3% in opening trade on March 7 tracking weak global markets and elevated oil prices amid the Russia-Ukraine conflict.
Extending its downtrend for the fourth straight session on March 7, the 30-share BSE Sensex opened on a weak note and slumped 1,620.73 points or 2.98%t to 52,713.08.
Similarly, the broader NSE Nifty tanked 447.05 points or 2.75% and slipped below the 16,000 level to 15,798.30.
Sensex tanked 1,453.51 points to 52,880.30 in opening trade, while the Nifty plunged over 400 points to 15,831.85.
From the 30-share pack, Maruti Suzuki, Mahindra & Mahindra, Larsen & Toubro and ICICI Bank were the biggest drag, tumbling up to 6.3%.
In the previous trade, the 30-share BSE benchmark ended at 54,333.81, down by 768.87 points or 1.40%. The NSE Nifty slumped 252.70 points or 1.53% to end at 16,245.35.
Bourses in Hong Kong, Shanghai and Tokyo were trading significantly lower in mid-session deals.
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