After opening in green for three consecutive days, Indian stock markets witnessed a gap-down opening today. At the open, Sen**** fell 1953 points while Nifty was down 453. By 3 pm, Sen**** fell by over 2000 points while the NSE was down by 800 points. At the close, the BSE market cap lost over Rs 12 trillion in value.
This comes after Iran struck key energy facilities in the Gulf, sending Brend crude oil above $110 per barrel. HDFC Bank's share fell sharply after its chairman resigned with immediate effect.
Meanwhile, the US Fed Reserve kept its interest rate unc****ed -- which will keep US bonds attractive and trigger further FII selling in Indian equities. The GIFT Nifty also signalled at a negative opening. The futures were quoted at 23,324, down 453 points.
