India Shares, Rupee Fall on Modi's Call for Austerity, Crude Price ...
Investors lost more than Rs 6.1 lakh crore as benchmark indices slid for a third straight session and volatility rose nearly 10%.
- On Monday, the benchmark BSE Sensex tumbled more than 1,300 points, marking the third consecutive day of losses as rising crude oil prices weighed on investor sentiment amid geopolitical tensions in West Asia.
- United States President Donald Trump dismissed Iran's response to peace talks as 'totally unacceptable,' causing Brent crude to surge more than 2.6% to nearly $104 per barrel and dampening hopes for diplomatic resolution.
- Prime Minister Narendra Modi urged citizens on Sunday to conserve fuel and avoid non-essential foreign travel for one year, describing such measures as 'an act of patriotism' to shield India's economy from the conflict.
- Investors lost more than Rs 6.1 lakh crore during the session as 13 of the 16 major sectors logged losses, with Senco Gold falling 10% intra-day and airline operator IndiGo losing 4.9%.
- India imports 88% of its crude oil needs, amplifying vulnerability to global price shocks, while the rupee weakened to 95.3 against the US dollar, reflecting mounting macroeconomic stress following Modi's austerity appeal.
14 Articles
14 Articles
Sensex falls over 1,300 points as high crude oil prices, PM austerity appeal unnerve investors
Stock markets fell for the third day running on Monday, with the benchmark Sensex tumbling 1,313 points amid rising crude oil prices after the US and Iran failed to reach a peace deal to end the war in West Asia.
Stock market tanks amid higher oil prices, PM Modi’s call for austerity
The Indian stock market fell about 1.5% on Monday amid higher global oil prices and concerns about the economic impact of the conflict in West Asia on India.The benchmark Sensex had fallen more than 1,300 points, or nearly 1.7%, at the end of the session. The Nifty had fallen 360 points, or nearly 1.5%. Investors had lost more than Rs 6.1 lakh crore during the day.The India VIX index, which measures volatility in the market, spiked nearly 10% on…
Stocks of travel, aviation firms fall; Yatra Online, IndiGo slide 5 pc
New Delhi, May 11 (PTI) Shares of tour, travel-related services providers and aviation firms dropped on Monday amid rising oil prices and Prime Minister Narendra Modi calling for postponing overseas travel for one year to save foreign exchange due to the West Asia crisis. The stock of Yatra Online tanked 5.41 per cent, Thomas Cook (India) Ltd lost 3.88 per cent and Easy Trip Planners declined 3.27 per cent on the BSE. Shares of InterGlobe Aviati…
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