Domestic equity benchmarks Nifty 50 and Sensex ended lower on Monday, October 9, snapping a two-day winning streak as investor sentiment took a hit due to a number of factors.
- The conflict between Israel and Palestine raised concerns about a potential disruption to oil supply, as crude oil prices spiked by 5%.
- Concerns about rising interest rates in the United States also weighed on investor sentiment.
- The S&P BSE Sensex ended 483.24 points, or 0.73% lower at 65,512.39, while the Nifty ended 141.15 points, or 0.72% lower at 19,512.35 levels.
- Mid-cap and small-cap stocks also underperformed, with the Nifty Mid Cap 100 and Small Cap 100 indices ending over 1% lower.
- The Nifty Bank index settled down 1.07% at 43,886.5.
Overall, the stock market was down on October 9 as investors were cautious due to a number of geopolitical and economic risks.
The Indian stock market fell on Monday, October 9, snapping a two-day winning streak, as investor sentiment was hit by a number of factors, including a conflict between Israel and Palestine, a spike in crude oil prices, and concerns about rising US interest rates.
The S&P BSE Sensex closed 483.24 points, or 0.73%, lower at 65,512.39, while the Nifty 50 ended 141.15 points, or 0.72%, lower at 19,512.35 levels. The Nifty Mid Cap 100 and Small Cap 100 also ended over 1% lower. The Nifty Bank settled down 1.07% at 43,886.5.
The conflict between Israel and Palestine raised concerns about geopolitical tensions in the Middle East, which could lead to a disruption in oil supplies. Crude oil prices surged by 5% on Monday, which is bad news for India, a major oil importer.
In addition, investors are concerned about the US Federal Reserve raising interest rates aggressively in order to combat inflation. This could lead to a sell-off in risky assets, such as stocks.
Overall, the Indian stock market is facing a number of headwinds, which could weigh on performance in the near term. Investors should monitor the situation closely and make informed investment decisions.