Stock markets extended their losing streak for a third straight session on Monday, with the benchmark Sensex plunging 1,313 points as rising crude oil prices rattled investor sentiment following the failure of peace talks between the US and Iran over the ongoing West Asia conflict.
The 30-share BSE Sensex slumped 1,312.91 points, or 1.70 per cent, to close at 76,015.28. During intraday trade, the index dropped as much as 1,370.79 points, or 1.77 per cent, to 75,957.40.
Analysts also pointed to Prime Minister Narendra Modi’s call for austerity measures, which added to concerns over forex reserves, rising fuel prices, and the broader consumption outlook.
