Mumbai: The BSE Sensex dropped 1613.09 points to 75,937.16 in early trade on Monday. The NSE Nifty fell 461 points to 23,589.60. The Stock Market benchmark indices slumped after the US-Iran talks in Islamabad ended without a deal due to “excessive demands” made by the American side, as claimed by Tehran. Meanwhile, US President Donald Trump’s order of a naval blockade of the Strait of Hormuz has escalated tensions with Iran after talks failed to resolve disputes over Tehran’s nuclear ambitions.
The US markets settled on a mixed note in the previous session (Friday), with the Dow Jones Fut. down by -0.83%, the S&P 500 Fut. down by -0.83%, and the Nasdaq Fut. down by -0.93%.
Last session, Nifty closed on a positive note, up by 275 points 1.16% to settle at 24,050.60 on April 10. The index opened on a positive note and witnessed slow but steady up-move as the index tested 24,074 zone in the last hour of trade. It formed a bullish candle on the daily scale as it traded the previous swing high of 24,025 and closed above the same. The index is holding above the 20 DEMA from past three trading session.
In the previous trading session, FIIs were net buyers in the cash market to the extent of Rs 672.09 crore, while DIIs provided partial support by buying equities worth Rs 410.05 crore. In the index futures segment, FIIs also registered a net buy of Rs 3438.35 crore. Meanwhile, a -4.31% decline in open interest suggests short covering.
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