Indian shares ended deep in the red on Thursday, with key benchmark indexes Sensex and Nifty falling for the sixth straight session on interest-rate concerns and lingering Middle East tensions.
Israeli Prime Minister Benjamin Netanyahu said that the Israeli army is prepared for the ground assault in Gaza, denting demand for riskier assets and increasing the appeal of safe-haven assets such as the dollar and gold.
Reflecting concerns that the Gaza war may spread, the Wall Street Journal reported that Israel had agreed to delay invading Gaza until U.S. air defense systems can be placed in the region.
A surge in global bond yields and seeming high valuations of the Indian markets also weighed on investor sentiment.
The benchmark S&P BSE Sensex plunged 900.91 points, or 1.41 percent, to 63,148.15 amid broad-based selling.
The broader NSE Nifty index slumped 264.90 points, or 1.39 percent, to close at 18,857.25.
Among the prominent decliners, Kotak Mahindra Bank, HDFC Bank, Tech Mahindra, JSW Steel, Titan Company, Nestle India, Bajaj FinServ, Asian Paints, Bajaj Finance and Mahindra & Mahindra fell 2-4 percent.
Sensex, Nifty Plunge Amid Global Selloff
2023-10-26 10:28:36
