Market Falls Sharply On Concern Over Crude Oil Prices

Sensex, Nifty plummeted on Monday as concerns about crude oil prices rising in the international market. The BSE Sensex declined 495pts at 38,645 levels. The NSE Nifty fell 158pts to close at 11,594 levels.

In the international market, Brent crude prices hit USD74pb on Monday. Earlier, the crude oil producing cartel OPEC and allies had slashed output to spike up oil prices.

Bharti Airtel, Wipro, Tech Mahindra, Infosys and NTPC were the top gainers on Nifty. On the flip side, Indiabulls HF, Yes Bank, BPCL, IndusInd Bank, Indian Oil Corp lost the most.

All sectoral indices on the NSE ended in the red zone barring the Nifty IT index.  The Nifty IT gained 0.44pc at 16,150.60 on the back of the rupee depreciation.

Among the stocks, the other stocks that dipped the most in today’s trade were Reliance Capital, PC Jewellers and DHFL were down more than 10pc.