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Sensex ends 52 points lower, Nifty falls 28 points amid U.S.-Iran flare-up

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The BSE benchmark Sensex ended 52 points lower on Wednesday as the U.S.-Iran clash kept global investors on the edge.

After plunging nearly 400 points during the session, the 30-share BSE index pared some losses to settle 51.73 points, or 0.13%, down at 40,817.74.

Similarly, the broader Nifty fell 27.60 points, or 0.23%, to finish at 12,025.35.

Among Sensex stocks, L&T was the top loser, shedding 2.19%, followed by ONGC, Titan, Sun Pharma, Hero MotoCorp and Infosys.

On the other hand, Bharti Airtel, TCS, Ultratech Cement, Bajaj Finance and ICICI Bank spurted up to 2.74%.

According to analysts, domestic stocks followed global equities that plunged on increasing tensions in the Middle Est after Iran launched missiles targeting U.S. military bases in Iraq in retaliation for the killing of Iran’s top General Qassem Soleimani.

Brent crude oil futures rose nearly 0.62% to $68.67 per barrel.

The rupee, which skidded 20 paise in opening deals, recovered to trade 3 paise up at 71.78 per U.S. dollar (intra-day).

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended up to 1.57% lower.

European markets, too, started on a negative note.

On the domestic front, advance GDP estimates suggesting India’s economic growth may drop to an 11-year low of 5% in the current fiscal also kept domestic investors cautious, traders said.

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Printable version | Jan 27, 2020 2:01:30 AM | https://www.thehindu.com/business/markets/sensex-ends-52-pts-lower-nifty-holds-12k-amid-us-iran-flare-up/article30513109.ece

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