New Delhi: India’s benchmark stock market indices Sensex and Nifty saw bloodshed on Thursday, October 03, 2024, on fears on rising Israel-Iran tension and Sebi’s fresh measures to protect investor money in the F&O segment. The 30 constituent index settled 1,729 points lower at 82,536.52  points while, the broader index opened tumbled down more than 2% to 25,250.10  levels.  Among the Sensex pack, stocks like L&T, RIL, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports, HDFC Bank, etc were the biggest laggards. Mostly bank, IT and FMCG stocks traded in red.

Among the National Stock Exchange’s (NSE) thematic indices FMCG, auto, banks, IT, etc all closed in red. India’s stock gauges have recently faced selling pressure due to foreign outflows and heightened middle east tension. The indices have closed in red for the last four trading sessions now.

Crude Oil Prices Boil Amongst Fresh Iran-Israel Tension

After Iran’s missile attacks on Israel, the latter has hinted at retaliatory strikes on Iran’s oil and gas infrastructure.  Global oil benchmark Brent Crude prices were up 1.79% and traded  at $75.22  per barrel. In the last one week, it has become costlier by more than 4%. Middle East’s rising tension has caused selling pressure on India’s stock market gauges.

Asian Markets Give Mixed Signal

While, other Asian markets gave mixed signals on Thursday. Japan’s stock gauges were buoyant after the country’s newly elected Prime Minister Shigeru Ishiba directed Japanese central bank not to hurry with the rate hikes. While, stock gauges in Hong Kong traded in negative territory on Thursday.

On the other hand, mainland Chinese stock market indices are closed for the entire week. Recently, stock exchanges in China have risen phenomenally on account of fresh stimulus measures announced by the Chinese central bank. The policy makers last week pegged for reduction in interest rates to prop up its falling economy. Since then, the Chinese market gauges have only shot up in last few sessions.

India’s both domestic stock market indices Sensex and Nifty had opened with a gap down on Tuesday, October 01, 2024. In the preceding trading session on Tuesday, the 30 constituent index had closed in red at 84,266.29  points while, the broader index settled  at 25,796.90  levels. Wednesday was a holiday on account of ‘Gandhi Jayanti.’ While, the US benchmark gauges had  closed flat on Wednesday.