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Indian equity benchmark indices Sensex and Nifty experienced a significant tumble in early trade, primarily driven by elevated crude oil prices due to ongoing West Asia uncertainty and substantial foreign fund outflows. Track Sensex, Nifty on September 29.
Stock markets tumbled on Monday, with the benchmark Sensex plunging over 1,100 points to a six-month low and the Nifty closing below 22,800 as surging crude oil prices, geopolitical uncertainty and weak global trends weighed on investor sentiment.
Crude oil above USD 105 per barrel, high US yields, rupee weakness, and foreign fund outflows keep pressure on Indian equities despite a sharp late-session recovery