Indian Shares Slump As Brent Crude Touches $105 On US-Iran Tensions
(RTTNews) - Indian shares were sharply lower in early trade on Monday after U.S. President Donald Trump and Iran rejected each other's latest peace proposals to end the war in the Middle East, keeping the Strait of Hormuz largely closed and raising doubts about the durability of a fragile ceasefire.
The benchmark BSE Sensex tumbled 1,055 points, or 1.36 percent, to 76,272 while the broader NSE Nifty index was down 280 points, or 1.2 percent, at 23,894.
Airline InterGlobe Aviation plunged 4 percent while state-run oil marketing companies like BPCL, HPCL and IOC lost 2-3 percent as Brent crude prices touched $105 per barrel mark after comments from Israeli Prime Minister Benjamin Neanyahu that the conflict with Iran was "not over."
Titan Company shares plummeted over 7 percent, Kalyan Jewellers lost 9.3 percent and Senco Gold nosedived nearly 11 percent after Prime Minister Narendra Modi urged people not to buy gold for the next one year to help conserve fuel and foreign exchange reserves.
Bajaj FinServ, Larsen & Toubro, Mahindra & Mahindra, Eternal, Bharti Airtel and SBI fell 2-4 percent.
Swiggy tumbled 4 percent after reporting a loss of Rs. 800 crore for the fourth quarter of the financial year 2025-26.
CMS Info Systems rallied 2.6 percent on securing a contract worth Rs 400 crore for ATM managed services outsourcing mandate from HDFC Bank.
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