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Indian stocks sink amid global market carnage after dramatic oil crash Indian stocks sink amid global market carnage after dramatic oil crash
(32 minutes later)
The Bombay Stock Exchange’s Sensex index sank more than 1,400 points at the opening bell, while the Nifty – a benchmark of the National Stock Exchange – also took a hit of nearly 4 per cent, amid an unprecedented oil market crash. The Bombay Stock Exchange’s Sensex index sank more than 1,400 points at the opening bell while the Nifty – a benchmark of the National Stock Exchange – also took a hit of nearly four percent amid an unprecedented oil market crash.
DETAILS TO FOLLOW Saudi Arabia’s discount of $6 to $8 per barrel to its customers in Asia, Europe, and the US, and the promise of an increase in output, triggered an unprecedented oil market crash on Monday, sinking both main crude benchmarks Brent and WTI, down 30 percent – and sending stock market indices and futures worldwide into a downward spiral.
Japan and Australia were down 6 percent, while South Korea dived 4 and China more than 2.5 percent. Europe and the US are expected to open deep in the red.
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