Sensex Plunges 931 Points as Rupee Weakens Sharply
Fragile West Asia ceasefire and rising crude concerns trigger foreign fund selloff, denting investor confidence
MUMBAI: Indian equity markets ended sharply lower on Thursday, with the BSE Sensex falling 931 points to settle at 76,632, as persistent selling by foreign investors and global geopolitical tensions weighed on sentiment.
Market participants remained cautious over the stability of the ceasefire between the US and Iran in West Asia. Concerns intensified as Israel continued military action in Lebanon, raising doubts about the durability of the truce announced earlier this week.
Global markets also reflected the uncertainty. Japan’s Nikkei 225 ended 0.7% lower, while the UK’s FTSE 100 slipped 0.3% in late trade. In the US, major indices including the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 traded flat after a weak opening.
Rising crude oil prices further dampened investor mood, with Brent Crude hovering near the crucial $100 per barrel mark during evening trade.
Currency markets also reflected the pressure, as the Indian rupee weakened to 92.66 against the US dollar, compared to 92.58 in the previous session.
In the bullion market, gold prices in Mumbai declined by ₹600 to close at ₹1.5 lakh per 10 grams, while silver prices dropped to ₹2.37 lakh per kg from ₹2.46 lakh earlier.
