Markets hit a 10-month low on oil price worries
Mumbai, March 10 -- The West Asia crisis hammered stocks worldwide on Monday, with Indian markets closing at their lowest levels in at least 10 months. The ascent of hardliner Mojtaba Khamenei as the Supreme Leader of Iran raised fears of a protracted war, disrupting oil transit and damaging oil assets in the region.
After opening nearly 3% lower, markets clawed back some of the losses, with the Nifty closing 1.73% lower at 24,028.05, its lowest level since 9 May, and the Sensex 1.71% lower at 77,566.16, its lowest since 16 April. As crude prices surged past $100 a barrel, the Nifty logged its biggest single-day fall since 1 February.
By the end of the day, the market capitalization of companies listed on the BSE was down by Rs.8.47 trillio...
To read the full article or to get the complete feed from this publication, please
Contact Us.