Sensex falls over 80 points after US withdraws from Iran deal

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The benchmark Sensex of the Bombay Stock Exchange (BSE) fell over 80 points in early trade on Wednesday on weak global cues after the US President withdraw from the Iran deal, fanning fears of an escalation in geopolitical tensions.

Crude oil prices zoomed past $76 per barrel mark amid foreign capital inflows and depreciating rupee.

Asian shares ticked down as renewed US sanctions on Tehran were seen as disruptive for oil suppliers.

The 30 share barometer shed 82.12 points (0.23 percent) to 35134.20. Earlier the gauge had lost 300.94 points in the previous two sessions.

Sectoral indices led by auto, realty, oil and gas, banking, capital goods, PSU, and power declined by up to 0.83 percent.

The broader 50 shares NSE Nifty too slipped below 10700-mark losing 27.95 points (0.26 percent) to 10689.85.

Major laggards were HDFC, ICICI Bank, Axis Bank, Bharti Airtel, Adani Ports falling nearly 1.5 percent.

However, IT stocks spurted after the rupee depreciated against the dollar. The rupee was worst hit among Asian peers, it opened 0.4% or 28 paise weak against the dollar as compared to yesterday’s close of 67.08 a dollar.

TCS rose 0.86 percent, Infosys 0.59 percent, and  Wipro 0.06 percent.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 97.15 crore while Domestic Institutional Investors (DIIs) bought shares worth Rs 923.25 crore on Tuesday, a provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng shed 0.04 percent while Japan’s Nikkei too lost 0.43 percent. Shanghai Composite Index was down by 0.16 percent in early trade.

The US Dow Jones Industrial Average ended 0.01 percent on Tuesday.

Also Read: ICICI Bank falls 50 percent in Q4 net profit

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