NEW DELHI: Market made a muted start on Thursday amid rising geopolitical worries and hardening oil prices.
At 09:19 am, the Sensex traded 7 points down at 33,932 while the broader Nifty was below the crucial 10,400 at 10,397, a loss of 19 points.
Heat was on Asian stocks on Thursday as the threat of an imminent US military strike in Syria rattled sentiment and sent oil prices to their highest since late 2014 on concerns about supply, Reuters reported. MSCI's broadest Asia-Pacific index outside Japan slipped 0.05 per cent in early trade while Japan's Nikkei slumped 0.4 per cent.
Wall Street had a much lower overnight close. The Dow crashed 218 points while the S&P500 and the Nasdaq declined over half-a-per cent.
OMCs ran up losses on reports that they have been asked to absorb price hike. HPCL was down 2 per cent while those of BPCL and OIL dropped 2 per cent each.
Alok Industries hit an upper circuit limit of 5 per cent after news that Reliance Industries is set to acquire the company. A majority of lenders to the bankrupt textile firm voted in favour of the resolution plan by RIL