India’s BSE Sensex fell around 1.2% down at 80,319 on Monday, extending losses for a third straight session and touching its lowest level since September 30 of last year, as escalating tensions in the Middle East and a sharp rise in oil prices weighed on investor sentiment. All sectoral indices opened in negative territory, reflecting broad-based selling pressure, except for communications and electronic technology stocks, which recorded modest early gains. On the macro front, Friday’s Q4 GDP data showed growth eased to 7.8% from a six-quarter high of 8.4% in the previous period, yet still surpassed market expectations of 7.2% and remained the strongest among G20 economies, while investors now await HSBC’s manufacturing PMI, to be released later today, and the services and composite PMIs, scheduled for later this week. Among the individual stocks dragging the index lower were Larsen & Toubro (-5.3%), InterGlobe Aviation (-3.9%), Reliance Industries (-2%), and Axis Bank (-1.4%).
