Closing Bell: Sensex drops 262 points, Nifty ends just about 11,000 (file photo)
Sensex on Monday ended in the negative territory as oil prices surged the most in 28 years in the intra-day trade following attacks on key oil producer Saudi Arabia’s crude facilities over the weekend. BSE Sensex lost 262 points or 0.70 per cent to close at 37,123 levels, with M&M (down 2.50 per cent) being the top loser and ONGC (up around 1.50 per cent) the biggest gainer.
HDFC, Reliance Industries (RIL), SBI and L&T contributed the most to the Sensex's loss while TCS, HUL and Tech Mahindra were among the top gainers.
In the broader market, the BSE MidCap index slumped 38 points, or 0.27 per cent, to 13,628.07 levels, while the BSE SmallCap index surged 83 points, or 0.64 per cent, to 13,096 levels.
On NSE, the Nifty 50 index ended at 11,003.50, down 72 points or 0.65 per cent. Out pf 50 constituents, 14 advanced and 36 declined.
The session was highly volatile as India VIX, the volatility index, jumped around 6 per cent to 14.93 levels.
In the previous session on Friday, the BSE barometer settled 280.71 points higher at 37,384.99, while the broader NSE Nifty ended 93.10 points up at 11,075.90.
According to experts, domestic equities plunged after global oil benchmark Brent crude price skyrocketed as drones attacked two Saudi Arabian plants on Saturday.
The attack by Yemen’s Houthi rebels reportedly shut down six per cent of the global oil supply.