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Stock Market Bleeds (Souces Pinterest)
Mumbai: Brent crude prices nears $80 amidst United States and Iran Tension escalated after US launched fresh strikes Iran, to which Iran retaliated the strikes by attacking US military bases in various gulf countries.
However, international oil benchmark Brent crude hiked more than 4 per cent to trade around $80 per barrel, while US West Texas Intermediate (WTI) crude rose 4.55 per cent to $74.66 per barrel.
Sensex opened at 76,963.35, down over 600 points or 0.78 per cent, while Nifty started at 24,039.40, declining 167.50 points or 0.69 per cent.
According to market experts, this market crash is due to the recent developments in the West Asia crisis have become the new normal, creating tension for energy importers such as India.
IT stocks traded in positive today, the market was led by Tata Consultancy Services (TCS), which gained 2.71% to close at ₹2,125.00, up ₹56.00.
HCL Technologies also showed strong gains, rising 2.01% to ₹1,187.50, adding ₹23.40.
According to market, Infosys edged up 0.35% to ₹1,071.70, gaining ₹3.70, while Wipro registered a modest increase of 0.31%
Southern Iranian cities heard cxplosions, media reported the latest round early. According to reports no casualties or damage to civilian infrastructure in the areas near the strait were done. It wasn't immediately clear if any military targets had been hit.
Iran responded with attacks on Bahrain, Kuwait, Qatar, Jordan and Oman, the nation on the other side of the strait that Tehran has pressed to collaborate in managing shipping traffic.
Meanwhile, US President Donald Trump asserted on Sunday that the Strait of Hormuz remains open to commercial traffic, dismissing Iranian claims of control following a series of intense US military strikes in the region.
