BSE Sensex tanks 389 points, markets spooked by escalation in Middle East tensions
BSE Sensex is trading at 72,099 points, down 389 points on Friday as domestic equities continued their losing spree amid escalation in Middle East tensions.
Sensex on Wednesday’s session opens on a higher note. The S&P BSE Sensex index rose as much as 225.52 points to 36,706.61 in early trade, and the broader NSE Nifty benchmark climbed to 10,884.70, up 67.1 points from the previous close.
At 11:43 AM, BSE is at 36,579.43, Nifty at 10,840.95.
Trades in financial, energy and metal sectors pushed the markets higher, however, selling in information technology and consumer goods shares kept the upside in check.
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Crude oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by the end of the month while caution ahead of an expected US interest rate cut kept wider financial markets in tight ranges.
On Tuesday, the Nifty index had ended 1.69 per cent lower, giving up all of the gains so far this calendar year, and the S&P BSE Sensex settled 1.73 per cent lower from the previous close.
Overnight in the US, shares ticked up a tad on Tuesday with the S&P 500 gaining 0.26 per cent.
(With input from agencies)
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