Home / Markets / Stock Markets /  Sensex slips below 57k, Nifty drops below 17k

NEW DELHI : The markets, which saw some reprieve in the previous session, resumed their downwards journey on Monday amid weak global cues, an unfavourable global data and the prevailing risk-off sentiment.

The Sensex slipped 1.11%, ending below the 57,000 mark, giving up most of the gains of Friday. The Nifty lost 1.21% and closed at 16,887.35, much below the 17,000 mark.

“Global factors are outweighing the Investor’s sentiments with concerns over the financial health of Credit Suisse, the worsening Russia-Ukraine conflict, and worries over inflation," said Siddhartha Khemka, head, retail research, Motilal Oswal Financial Services Ltd.

The pressure on the Asian stocks continued with lingering worries around inflation and interest rate, said analysts. The spike in oil prices amid speculation that OPEC + may reduce production, added to major concerns for oil importing countries.

Brent, which had slipped to the closing low of $83.30 a barrel on 26 September, has rebounded to the $90.23 per barrel level on Monday.

The pressure on European markets was led by UK manufacturing PMI coming in weak.

ABOUT THE AUTHOR

Ujjval Jauhari

Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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