Sensex Slips 708.38 Points In Early Trade, Nifty 23,417.10
· Free Press Journal
Mumbai: Sensex tumbled 708.38 points to 75,326.04 in early trade, Nifty dropped 222.05 points to 23,417.10 in Friday's early morning trade. On Thursday, Indian benchmark equity indices ended lower as volatility in global oil prices dampened investor sentiment and triggered selling across sectors. The Nifty declined 0.95 percent, or 227.70 points, to close at 23,639.15. Meanwhile, the Sensex fell 1.08 percent, or 829.29 points, to settle at 76,034.42. Market sentiment was also influenced by developments in West Asia and concerns over energy supplies.
Iran has reportedly assured that Indian-flagged ships will be allowed to pass safely through the Strait of Hormuz, an important global oil shipping route. Broader markets also ended lower in line with the benchmark indices. Sector-wise, the Nifty Auto index was the worst-performing sectoral gauge. The decline came amid concerns over restrictions on gas supplies and a broader shortage that could weaken the outlook for the automotive sector. The Nifty FMCG and Nifty Realty indices also underperformed. On the other hand, the Nifty Oil & Gas index emerged as the top-performing sector in Thursday’s trading session, supported by the rise in global crude oil prices.
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