On the second trading day of the week, the Sensex tumbled by over 800 points. Meanwhile, the Nifty slipped below the 22,800 mark. In early trading, the Sensex fell 824.44 points to 73,282.41, while the Nifty dropped 248.95 points to 22,719.30. Shares of InterGlobe Aviation (IndiGo) were seen trading down by 2%. In early trade, the Rupee depreciated by 17 paise against the US Dollar, falling to 93.07.
How are the Asian markets faring?
On Tuesday, Asian stock markets witnessed a mixed trend amidst cautious trading. Oil prices continued their upward trajectory ahead of a deadline set by US President Donald Trump, requiring Iran to either reopen the Strait of Hormuz to all maritime traffic or face the risk of airstrikes on its power plants and bridges.
Japan’s benchmark Nikkei 225 shed its early gains, falling 0.2 percent in morning trade to 53,310.30. Australia’s S&P/ASX 200 rose 1.5 percent to reach 8,706.90. South Korea’s Kospi remained largely unchanged, slipping by less than 0.1 percent to 5,445.80. The Shanghai Composite gained 0.4 percent to reach 3,896.98. Trading in Hong Kong remained closed due to a public holiday.
How did Wall Street perform?
Share prices on Wall Street saw a modest uptick, with the S&P 500 recording a 0.4 percent gain—marking its first positive weekly trend in the last six weeks. The Dow Jones Industrial Average rose by 165 points, or 0.4 percent, while the Nasdaq Composite recorded a gain of 0.5 percent.
In energy trading, the price of benchmark U.S. crude oil rose by $2.37 to $114.78 per barrel. The price of the international benchmark, Brent crude, increased by $1.40 to $111.17 per barrel. This is significantly higher than the pre-war price of approximately $70.