Sensex, Nifty fall 1% as crude oil prices surge

Mumbai: A rise in global crude oil prices, along with a weak rupee, dragged the key equity indices lower by around 1 per cent on Monday.

Except for the IT and Teck sectors, all the other segments on the BSE like auto, energy, banking and finance faced heavy selling pressure.

The Brent crude price rose to $71.10 a barrel and consequently, the Indian rupee slipped to Rs 72.98 to a US dollar. It had closed at 72.49 on Friday.

The S&P BSE Sensex fell 345.56 points or 0.98 per cent to 34,812.99 points. It had opened at 35,287.49 from its previous close of 35,158.55.

It touched an intra-day high of 35,333.22 and a low of 34,756.80.

The NSE Nifty closed 103 points lower or 0.97 per cent at 10,482.20 points.