Sensex falls 250 pts from day’s high, Nifty near 25,500: Weak global cues among key factors behind market decline
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The equity benchmark indices opened higher on Thursday, however, shortly pared gains to trade flat amid profit booking by the investors. The initial gains were led by the IT stocks after robust Nvidia earnings
At around 9:35 am, the Sensex was down 25.07 points or 0.03 percent to 82,251, while the broader Nifty declined to 25,500.90, up 18.40 points or 0.072 percent.
Key factors behind decline
1) Crude rises: Oil prices rose, hovering near seven-month highs, as investors gauged whether the U.S.-Iran nuclear talks could avert a conflict that risks supply disruptions.
2) Profit booking: Profit booking was seen after an initial rise in key sectors of FMCG, metal and realty.
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