Share Market Update: Sensex falls for 2nd consecutive day, Nifty ends tad below 11,700; metal stocks fall

Domestic benchmark indices BSE Sensex and NSE Nifty closed Monday's trading session in red dragged by losses in oil and gas and metal stocks amid rising US-Iran tensions.

Domestic bourses turned choppy as crude oil prices kept rising amid rising tensions between the US and Iran. (Image: PTI)

Share Market Update: After opening on a cautious note amid weak global cues, domestic benchmark indices BSE Sensex and NSE Nifty closed Monday's trading session in red dragged by losses in oil and gas and metal stocks amid rising US-Iran tensions. After swinging nearly 300 points in a volatile session, the BSE gauge settled 71.53 points, or 0.18 per cent, lower at 39,122.96. The index hit an intra-day low of 39,021.70 and a high of 39,300.02. Similarly, the broader NSE Nifty dropped 24.45 points, or 0.21 per cent, to 11,699.65. During the day, the index touched a low of 11,670.20 and a high of 11,754. According to market reports, ONGC was the top loser in the Sensex pack, ending 3.48 per cent lower. Tata Steel, Vedanta, Bajaj Auto, TechM, RIL, Hero MotoCorp, Kotak Bank, Axis Bank, and Infosys too fell up to 2.33 per cent. On the other hand, Yes Bank, M&M, TCS, SBI, IndusInd Bank, Maruti and ITC rose up to 2.19 per cent. Nine out of 11 sectoral gauges compiled by National Stock Exchange (NSE) ended lower, led by the NSE Nifty Metal Index’s 1.3 percent fall. On the other hand, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 0.25 percent. The US on Monday was due to tighten sanctions on Iran as the two countries traded barbs in a tense standoff sparked by Washington's withdrawal from a nuclear deal. According to traders, domestic bourses turned choppy as crude oil prices kept rising amid rising tensions between the US and Iran. Brent crude futures, the global oil benchmark, rose 0.16 per cent to $64.55 per barrel. Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note, equity markets in Europe were trading in the red in early deals. On the currency front, the Indian rupee appreciated 15 paise to 69.43 against the US dollar intra-day. Going ahead, the upcoming Union budget will remain the key event in the market. Meanwhile, on a net basis, foreign institutional investors sold equity worth Rs 730.58 crore, while domestic institutional investors purchased shares to the tune of Rs 445.75 crore, provisional data available with stock exchanges showed Friday.