The Indian stock market on Tuesday opened in the red as US-Iran tensions spiralled for the third consecutive day.
Both Nifty and Sensex reported a fall of nearly 0.6 per cent as oil prices scaled up.
The Sensex dropped more than 515 points to 77,096.34, while the Nifty 50 dropped 146 points to 24,064 during Tuesday’s session.
Earlier trends on Gift Nifty indicated a lower opening for the Indian benchmark index. The Gift Nifty was trading around the 24,044 level, a decrease of nearly 200 points from the Nifty futures’ previous close.
On Monday, the benchmark indices ended marginally in the green amid volatility and continued tensions hampering investor sentiment. The broader Nifty 50 continued above the 24,200 level.
Markets opened lower on Tuesday after the US reinstated the blockade on Iran. US President Donald Trump has proposed charging a 20 per cent fee on ships passing through the Strait of Hormuz.
Also, markets in the Asia-Pacific traded lower due to US President Donald Trump proposing to charge a fee from ships passing through the Strait of Hormuz and reinstating a blockade of Iranian ports.
Japan’s benchmark Nikkei 225 fell 1.17 per cent, while the Topix declined 0.51 per cent.
South Korea’s Kospi was down 2.01 per cent, while the small-cap Kosdaq lost 1.8 per cent.
Australia’s benchmark S&P/ASX 200 traded 0.29 per cent lower in early trade.
Futures for Hong Kong’s Hang Seng index stood at 24,158, lower than its last close of 24,213.72. Kospi and Nikkei pared some losses after the opening bell.
Also read: Rupee nears 96 mark against US dollar
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