Stock markets decline amid renewed West Asia tensions, higher crude prices

Stock markets closed lower on Monday amid selling in utilities, IT, and FMCG shares, as renewed tensions in West Asia pushed crude oil higher and fanned fears of a higher-interest-rate environment.

The 30-share BSE Sensex declined 307.24 points, or 0.40 per cent, to settle at 76,957.27 with 20 of its constituents ending lower and 10 with gains. During the day, it tanked 513.19 points, or 0.66 per cent, to 76,751.32.

The 50-share NSE Nifty dropped 95.25 points, or 0.39 per cent, to end at 24,080.40.

Weak trends in global markets and foreign fund outflows dented investor sentiment, analysts said.