Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Sensex Plummets 642 Points, Nifty Dips to 10,800 as Investors Spooked by Saudi Aramco Attacks

The fall is being attributed to the September 14 attack on two Saudi Aramco plants at the heart of the kingdom's oil industry, including the world's biggest petroleum processing facility.

News18.com

Updated:September 17, 2019, 4:19 PM IST
facebookTwitterskypewhatsapp
Bombay Stock Exchange
File photo of the Bombay Stock Exchange.

New Delhi: Benchmark BSE Sensex on Tuesday plummeted 642 points as investors weighed India's fiscal worries due to soaring crude prices in the wake of growing geopolitical tensions in the Middle East.

After nose-diving 704 points, the 30-share index ended 642.22 points, or 1.73 per cent, lower at 36,481.09. The broader NSE Nifty, too, settled 185.90 points, or 1.69 per cent, down at 10,817.60.

On the Sensex chart, losses were mainly driven by Hero MotoCorp, Tata Motors, Axis Bank, Tata Steel, Maruti and SBI — falling as much as 6.19 per cent. Of the 30 scrips of the BSE gauge, HUL, Asian Paints and Infosys were the three gainers.

Investors were spooked by geopolitical uncertainties over the Saudi oil turmoil amid reports that higher oil prices were likely to severely hit economic conditions in India, which imports more than 70 per cent of its oil needs, experts said.

The attack on the world's largest oil processing facility in Saudi Arabia has led to a record surge in global crude prices.

After soaring as much as 20 per cent to USD 71.95 per barrel on Monday, Brent crude futures corrected slightly to trade at USD 67.97 per barrel on Tuesday.

Higher import cost of oil could sharply worsen current account position, compress profit margins and raise inflation, a Nomura report said.

Tracking the movement in oil prices, the rupee further depreciated by 37 paise (intra-day) to trade at 71.97 per US dollar.

Market participants were also on edge awaiting cues from the upcoming trade talks between China and the US as well as a much-anticipated policy meeting of the Federal Reserve, scheduled to begin later in the day.

Elsewhere in Asia, Shanghai Composite Index and Hang Seng ended significantly lower, while Nikkei and Kospi settled in the green.

Stock exchanges in Europe were trading on a mixed note in their respective early sessions.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 643.55 -16.19
Yes Bank 51.80 0.78
Bajaj Finance 4,034.15 -2.50
Reliance 1,414.15 -0.16
Indiabulls Hsg 218.00 -5.71
Company Price Change %Gain
Infosys 643.30 -16.21
Yes Bank 51.80 0.78
Indiabulls Hsg 218.20 -5.75
HDFC 2,115.95 0.98
Reliance 1,414.25 -0.07
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,810.75 3.15
ICICI Bank 451.15 3.05
BPCL 534.10 2.65
Titan Company 1,329.45 2.22
Cipla 453.90 2.20
Company Price Change %Gain
ICICI Bank 451.15 3.06
Coal India 208.80 1.38
Power Grid Corp 204.95 1.18
Bajaj Auto 3,123.30 1.15
Hero Motocorp 2,673.40 1.04
Top Losers
Company Price Change %Gain
Infosys 643.55 -16.19
Tata Motors 131.75 -3.73
Bajaj Finserv 8,008.85 -3.11
HCL Tech 1,064.45 -2.83
Bajaj Finance 4,034.15 -2.50
Company Price Change %Gain
Infosys 643.30 -16.21
Tata Motors 131.90 -3.51
HCL Tech 1,064.45 -2.87
Bajaj Finance 4,031.95 -2.56
Bharti Airtel 374.20 -2.36

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results