Equity benchmark indices opened sharply lower on July 13, tracking the sell-off across Asian markets, as investors turned cautious after fresh military tensions between the US and Iran triggered a surge in crude oil prices. Rising oil prices raised concerns over global energy supplies, making investors cautious and prompting them to reduce exposure to riskier assets.
Stock Market Today: Sensex, Nifty Tumble As Fresh US-Iran Escalation Spook Investors
Stock Market Today: Equity benchmark indices opened sharply lower on July 13 as rising US-Iran tensions lifted crude oil prices and weakened investor sentiment across Asian markets
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The BSE Sensex opened 606.04 points, or 0.78 per cent, lower at 76,963.35. Likewise, the NSE Nifty 50 started 167.50 points, or 0.69 per cent, lower at 24,039.40.
Broader market also mirrored the negative sentiment, with the Nifty Midcap 100 and the Nifty Smallcap 100 falling more than 0.55 per cent and 0.63 per cent at open. The Nifty 500 index, which represents more than 92 per cent of the free float market capitalisation of all the NSE-listed companies, also fell 0.66 per cent.
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