Indian Markets Plummet Amid US-Iran Standoff and Soaring Crude Oil Prices
Markets in India declined on Tuesday amid escalating tensions between the US and Iran, with crude oil prices also contributing to the slump.
The benchmark indices, Sensex and Nifty, were down by 30 points and 38.80 points respectively at the start of trading.
Later in the day, the Sensex fell 139.96 points to 77,235.23, while the Nifty dropped 66.75 points to 24,162.50.
The major losers among the Sensex firms were HCL Tech, Tech Mahindra, Maruti, NTPC, Power Grid, and Bajaj Finance.
On the other hand, Trent, Adani Ports, ICICI Bank, and Bharat Electronics were among the gainers.
Brent crude oil prices rose 0.35% to $92.49 per barrel amid the heightened tensions.
Ponmudi R, CEO of Enrich Money, stated that the US has launched an 'Economic D-Day' against Iran, intensifying economic pressure on Tehran.