Market Turmoil: Sensex, Rupee, and Gold Prices Tumble Amid US Trade Uncertainty

On Monday, the Sensex plummeted 824 points, hitting a seven-month low due to weak global trends and US trade policy uncertainty. Indian Oil Corporation's profits sank despite record fuel sales. The rupee and gold prices also dropped as investors' concerns increased.

In a dramatic turn of events, the Sensex experienced a 824-point drop on Monday, reaching its lowest point in over seven months. This decline came as investors reacted to intensified trade policy concerns stemming from the United States, causing IT and oil & gas shares to suffer notable losses.

The Indian Oil Corporation reported a significant 64% fall in net profit for the December quarter. Despite achieving record fuel sales, foreign exchange and inventory losses severely impacted the company's financial outcomes, dampening investor confidence.

In addition, the Indian rupee depreciated by 9 paise, closing at 86.31 against the US dollar, amid strong demand for the dollar. Meanwhile, gold prices fell slightly by Rs 100 to Rs 83,000 per 10 grams, as the end of its eight-day rally coincided with a weak global trend.

(With inputs from agencies.)