Sensex, Nifty slip as crude oil surges after Saudi attacks

September 16, 2019 17:41

Indian equity benchmarks slipped on Monday due to panic sell-offs by investors who were caught off guard by soaring crude prices after drone attacks on Saudi Arabia's oil facilities. Marking its worst fall in over two weeks, the BSE gauge Sensex settled 262 points, or 0.70 per cent, lower at 37,123.31.

The 30-share index plunged about 356 points in intra-day trade. Likewise, the broader NSE Nifty closed 79.80 points, or 0.72 per cent, down at 10,996.10.

Fresh geopolitical tensions in the Arabian peninsula diverted investors' attention from the struggling Indian economy for which the Indian government came out with another set of relief measures, including for the housing and exports sectors, over the weekend.

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