Key Highlights
- The Nifty 50, the NSE's benchmark index, plummeted by over 500 points, exceeding 2%, reaching an intraday low of 24,645 but quickly regained some ground, trading 462.10 points, or 1.9% lower at 24,724 around 2 PM.
- In the initial minutes of Monday's trading session, investors faced a loss exceeding ₹8 lakh crore, causing the total market capitalisation of companies listed on the BSE to fall from ₹463.50 lakh crore to ₹455 lakh crore.
- The rupee fell by 21 paise to 91.29 versus the US dollar on Monday, influenced by rising crude oil prices, a robust US dollar, and heightened global instability stemming from increased tensions in the Middle East.
- Traders in the forex market noted that poor sentiment in the equity markets and significant foreign fund withdrawals also put pressure on the Indian currency.
- Nifty 50 has witnessed a huge gap down today on the back of emerging geopolitical issues.
