Sensex tumbles over 350 points, Nifty falls 1 per cent
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Equities traded in red during the afternoon trade session on Monday after opening slightly higher.
The domestic stock market indices Sensex and Nifty are trading lower on Monday afternoon amid rising global crude oil prices and international trade tensions.
At 2 pm, Sensex is down over 350 points, It opened at 39,514.36 slightly higher from its Friday's close of 39,452.07, extending losses after opening in red today on worries over rising crude oil prices and escalating global trade tensions. NSE Nifty is down over 100 points, trading at 11,711.20 points.
Besides, investors continued to watch developments in the Middle East after a pair of oil tankers were attacked near the Strait of Hormuz on June 13. The incident escalates tensions in the region, heightening fears of a potential US-Iran military confrontation and disruption in oil supplies. Crude futures climbed 0.5 per cent the very next day.
The Brent was trading at $62.20 per barrel, up by 0.3 per cent.
The rupee was trading flat at 69.79 per dollar against the previous close of 69.80 per dollar on Monday.
(With inputs from agencies)