<p>Mumbai: Benchmark Sensex tumbled 1,236 points or 1.5 per cent while Nifty closed near 25,450 on Thursday following an across-the-board sell-off amid escalating geopolitical tensions between the US and Iran.</p>.<p>Halting the three-day gaining streak, the 30-share BSE Sensex tumbled 1,236.11 points, or 1.48 per cent, to settle at 82,498.14.</p>.<p>The 50-share NSE Nifty slumped 365 points, or 1.41 per cent, to close at 25,454.35.</p>.<p>Among the Sensex constituents, IndiGo, Mahindra & Mahindra, UltraTech Cement, Trent, Bharat Electronics Ltd, Adani Ports, Kotak Mahindra Bank, Reliance Industries, Tech Mahindra, ITC, Eternal and PowerGrid were the major laggards.</p>.<p>"The bears took charge of the Indian <a href="https://www.deccanherald.com/tags/stock-market">market </a>as rising geopolitical tensions between the US and Iran unsettled global sentiment, leading to a broad-based sell-off," Vinod Nair, Head of Research, Geojit Investments Ltd, said.</p>.<p>He added that Brent crude surged to its year-to-date high, exacerbating inflationary concerns and triggering heightened market volatility due to the fear of the bottlenecking of the Strait of Hormuz.</p>.<p>"At the same time uncertainty surrounding the US Fed's rate-cut trajectory and continued weakness in the INR impacted the domestic market. Sell-off intensified due to low FII participation because of Lunar New Year holiday across key Asian markets and a non-settlement day on account of a regional banking holiday in India," Nair said.</p>.<p>Meanwhile, Brent Crude, the global oil benchmark, rose 1.02 per cent to $71.07 per barrel.</p>.<p>In Asian markets, South Korea's Kospi settled 3 per cent higher, while Japan's Nikkei 225 benchmark closed 1 per cent higher. Markets in Hong Kong and mainland China remained closed for the Lunar New Year holidays.</p>.<p>European markets are trading lower in mid-session deals. The US equities market closed in the green territory on Wednesday.</p>.<p>Foreign institutional investors bought equities worth Rs 1,154.34 crore on Wednesday, while domestic institutional investors were also the net buyers of stocks worth Rs 440.34 crore, according to exchange data.</p>.<p>On Wednesday, the 30-share BSE Sensex jumped 283.29 points to settle at 83,734.25, while the broader NSE Nifty gained 93.95 points to close at 25,819.35. </p>
<p>Mumbai: Benchmark Sensex tumbled 1,236 points or 1.5 per cent while Nifty closed near 25,450 on Thursday following an across-the-board sell-off amid escalating geopolitical tensions between the US and Iran.</p>.<p>Halting the three-day gaining streak, the 30-share BSE Sensex tumbled 1,236.11 points, or 1.48 per cent, to settle at 82,498.14.</p>.<p>The 50-share NSE Nifty slumped 365 points, or 1.41 per cent, to close at 25,454.35.</p>.<p>Among the Sensex constituents, IndiGo, Mahindra & Mahindra, UltraTech Cement, Trent, Bharat Electronics Ltd, Adani Ports, Kotak Mahindra Bank, Reliance Industries, Tech Mahindra, ITC, Eternal and PowerGrid were the major laggards.</p>.<p>"The bears took charge of the Indian <a href="https://www.deccanherald.com/tags/stock-market">market </a>as rising geopolitical tensions between the US and Iran unsettled global sentiment, leading to a broad-based sell-off," Vinod Nair, Head of Research, Geojit Investments Ltd, said.</p>.<p>He added that Brent crude surged to its year-to-date high, exacerbating inflationary concerns and triggering heightened market volatility due to the fear of the bottlenecking of the Strait of Hormuz.</p>.<p>"At the same time uncertainty surrounding the US Fed's rate-cut trajectory and continued weakness in the INR impacted the domestic market. Sell-off intensified due to low FII participation because of Lunar New Year holiday across key Asian markets and a non-settlement day on account of a regional banking holiday in India," Nair said.</p>.<p>Meanwhile, Brent Crude, the global oil benchmark, rose 1.02 per cent to $71.07 per barrel.</p>.<p>In Asian markets, South Korea's Kospi settled 3 per cent higher, while Japan's Nikkei 225 benchmark closed 1 per cent higher. Markets in Hong Kong and mainland China remained closed for the Lunar New Year holidays.</p>.<p>European markets are trading lower in mid-session deals. The US equities market closed in the green territory on Wednesday.</p>.<p>Foreign institutional investors bought equities worth Rs 1,154.34 crore on Wednesday, while domestic institutional investors were also the net buyers of stocks worth Rs 440.34 crore, according to exchange data.</p>.<p>On Wednesday, the 30-share BSE Sensex jumped 283.29 points to settle at 83,734.25, while the broader NSE Nifty gained 93.95 points to close at 25,819.35. </p>