Indian indices open in red on Monday, March 2, due to tensions across Middle East increasing the prices of crude oil. The BSE Sensex down by 1,100 points. Meanwhile, the NSE Nifty 50 declined 330 points in early trade.
The Sensex fell 3.4% or 2,743 points at 78,543.73 points, while the Nifty 50 was trading 2.06% or 519.40 points down at 24,659.25. While, the crude oil prices have increased sharply on Monday. Brent Crude rose as much as 13%.
Follow Latest Development on US-Israel Attack Iran
Earlier, the GIFT Nifty forecasted a gab-down opening for Dalal Street which sliding over 150 points in early trade, according to NDTV. The weak cues followed a sell-off across global markets after US and Israel attacked Iran. The rupee also declined against US dollar at 91.26 today. It settled at 90.98 a dollar on Friday.
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The uncertainty in West Asian markets after UAE suspended trading of Abu Dhabi Securities Exchange and the Dubai Financial Market for Monday and Tuesday. Japan's Nikkei 225 and South Korea's Kospi fell as much as 2-3% in early trade before trimming some losses. Hong Kong's Hang Seng Index also opened in the red, while mainland China's CSI 300 edged lower.