India’s Sensex falls 1.3% to lowest level since early April

  • BSE Sensex fell about 1.3% to 72,942 on Monday.
  • Oil prices climbed about 2% after a stalemate in US-Iran talks.
  • August industrial and manufacturing data were due later Monday, with production forecast at 6%.

India’s BSE Sensex fell about 1.3% to 72,942 on Monday, reversing the previous session’s gains and reaching its lowest level since early April. Indian equities were pressured by higher oil prices, persistent concerns over global yields and foreign outflows. Oil rose about 2% after US-Iran talks reached a stalemate, increasing concerns for India, one of the world’s major oil importers. August industrial and manufacturing data were due later in the day, with industrial production expected to ease to 6% from 6.7% in July. Aequs was in focus after approving warrants worth up to 6.5 billion rupees, while Clean Max Enviro drew attention following reports that Augment India Holdings may sell a 7.25% stake through a block deal at a 10% discount. All sectors declined, including HDFC Bank, Reliance, NSE and Hero Motors.

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