Bloodbath on D-Street: Sensex crashes 1,850 pts, Nifty below 23,900; crude oil surge among key factors behind decline
Bloodbath on D-Street: Sensex crashes 1,850 pts, Nifty below 23,900; crude oil surge among key factors behind decline
Key factors behind market decline
1) Crude surge: Brent crude, the global oil benchmark, surged about 26 percent in early trade to around USD 119 per barrel, the highest level since July 2022. Iraq and Kuwait have begun cutting oil output, adding to earlier liquefied natural gas reductions from Qatar as the ongoing war has disrupted shipments from the Middle East.
2) Weak global cues: Asian markets also witnessed a sharp sell-off. South Korea’s Kospi tumbled more than 7 percent and Japan’s Nikkei 225 declined 6.5 percent. China’s Shanghai SSE Composite and Hong Kong’s Hang Seng were also trading lower.
Sector in Focus paint and Aviation sector
Stock on radar -