Indian Stock Markets Plummet Amid US-Iran Tensions
The Indian stock market saw a sharp decline on Wednesday due to escalating geopolitical tensions in West Asia and rising global crude oil prices. The Sensex, India's benchmark index, fell by 788.52 points to 76,155.76, while the Nifty 50 index dropped by 269 points to 23,786.80.
The decline was also influenced by a significant surge in Brent crude oil prices, which rose to $95.37 per barrel, and WTI crude prices, which surged over 8% in two sessions. Analysts warn that these factors will continue to pressure Indian markets, despite the country's resilient domestic growth outlook.
Among the laggards were InterGlobe Aviation, Eternal, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, and Bajaj Finance. However, Adani Ports and Sun Pharma emerged as winners in early trade.