Sensex Crash: Sensex tanks 487 points, Nifty 150 points day after US strikes Iran
Sensex crash: Infosys, HCL Tech, Hindustan Unilever, Bajaj Finance, and TCS led early losses, while Bharat Electronics and Bharti Airtel were the only gainers.
Benchmark indices Sensex and Nifty declined in early trade on Monday, June 23, day after the US attacked three nuclear sites in Iran, raising concerns over escalating conflict in the Middle East.
The 30-share BSE Sensex declined 487 points to 81,920 in early trade. The 50-share NSE Nifty dropped 150 points to 24,914.95.
Infosys, HCL Tech, Hindustan Unilever, Bajaj Finance, and TCS led early losses, while Bharat Electronics and Bharti Airtel were the only gainers in morning trade.
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The IT stocks were the worst hit as the shares witnessed a fall up to 2.5% in the early hours on Monday.
The IT losses were led by Coforge Ltd (-0.47%), TCS (-1.08%), Infosys (-2.05%) and HCL Technologies (-1.31%).
The development comes a day after Donald Trump announced launching surprise strikes on a key underground uranium enrichment site at Fordow, along with nuclear facilities in Isfahan and Natanz. The US attacks have met with calls for retaliation against Israel.
Meanwhile, the Indian Rupee fell 20 paise to 86.75 against US dollar in the early trade.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, and Hong Kong's Hang Seng were trading lower while Shanghai's SSE Composite index quoted marginally higher, news agency PTI reported.
US markets ended mostly lower on Friday even as global oil benchmark Brent crude jumped 1.69 per cent to USD 78.31 a barrel.
On Friday, the Indian benchmark indices had snapped a three-day losing streak, rising over 1%, largely due to US President Donald Trump’s decision to delay action in Israel’s offensive against Iran.
