New Delhi, 12 May (H.S.): On the second trading day of the week, Tuesday, the stock market opened in the red amid declines. Escalating geopolitical tensions in West Asia and rising crude oil prices triggered heavy selling in early trade. The market has now declined for the second consecutive day. The Sensex is down 768 points, while the Nifty has fallen 210 points.

The Bombay Stock Exchange (BSE) Sensex is trading at 75,246.44, down 768.84 points or 1.01 percent. Similarly, the National Stock Exchange (NSE) Nifty is trending at 23,605.80, slipping 210.05 points or 0.88 percent.

Experts attribute the downturn to sustained foreign fund outflows and waning investor confidence amid the crisis overshadowing peace talks between the United States and Iran. Rising tensions between the US and Iran in West Asia, coupled with fading hopes of a deal, have spiked crude oil prices, putting pressure on the domestic currency. Meanwhile, the Indian rupee has weakened by 35 paise in early trade, hitting a record low of 95.63.

Notably, the stock market had previously closed lower. The Sensex ended at 76,015, down 1,1,313 points, while the Nifty settled at 23,815, down 360 points.

---------------

Hindusthan Samachar / Jun Sarkar