The drone attack on Aramco’s oil plants in Saudi Arabia saw a decline in the stock market worldwide on Monday. Indian markets were also not untouched by this. The stock market started with a fall on Monday. Crude oil prices caught fire from this attack. Due to this, pressure on oil stocks was seen in India too.
The Bombay Stock Exchange (BSE) Sensex ended 261 points down at 37,123.31 at the end of trading on Monday. The National Stock Exchange (NSE) Nifty also lost 72 points to close at 11,003.50.
London’s Brent crude future rose 19.5 percent to $ 71.95 per barrel. This is the biggest jump in crude oil prices since 14 June 1991. However, despite this decline, the Nifty remained at the level of 11,000. During the business, 1360 stocks gained, while 1137 shares declined.
The highest beating was in oil and gas, banks, auto, energy sectors, while shopping was seen in FMCG and Pharma. Gold rose on Monday due to an attack in Saudi Arabia, because people considered it safe and started investing in it. Now investors are waiting for the cut in interest rates by several major banks this month.
The Bombay Stock Exchange (BSE) Sensex opened with a fall of 176 points on Monday and within a short time the level of its fall exceeded 200 points. The National Stock Exchange (NSE) Nifty also opened with a fall of 60.90 points and traded around 11,000. But by noon the decline kept increasing. In the afternoon, the Sensex had lost about 300 points.
On Monday, the rupee also saw a fall in early trade. It opened 70 paise down at 71.62 per dollar against Friday. The rupee had closed at 70.92 on Friday.
Markets around the world have been affected by the attack on Aramco’s oil plants in Saudi Arabia. On Monday, wholesale inflation figures are going to give some relief. Apart from this, the market will get direction from the investment trends of foreign portfolio investors (FPIs) and domestic institutional investors this week. Finance Minister Nirmala Sitharaman on Saturday announced several measures to boost exports and boost the residential sector as well as improve the health of the economy.
Before this, the last trading session, ie, the Asian market was seen on Friday and after the weak domestic sentiment, the Indian stock market closed with recovery.