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Indian Markets Plummet Amid Geopolitical Tensions and Oil Price Hike

Guavy AI Editorial Team
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Oil
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The Indian stock market ended lower on Monday, August 24, due to simmering geopolitical tensions and elevated crude oil prices.

Benchmark indices Sensex and Nifty fell by 171.72 points (0.22%) and 32.95 points (0.14%), respectively, as investors remained cautious ahead of fresh U.S. sanctions on Iran.

Ponmudi R, CEO of Enrich Money, said 'Markets remained cautious ahead of fresh US sanctions, with Washington promising an 'economic D-Day' against Iran and its trading partners.'

Brent crude prices dropped 1.68% to $92.80 per barrel, but remained above the $90 mark due to concerns over tighter Iranian oil supplies.

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