Indian Stock Markets Plunge Amid US-Iran Tensions and Oil Price Surge

The Indian stock markets closed lower on Friday due to elevated oil prices and US-Iran tensions. The Sensex fell by 70.71 points, or 0.09%, to settle at 78,009.25, while the Nifty dipped 29.85 points, or 0.12%, to end at 24,366.

The 30-share BSE Sensex was down during the day by 395.59 points, or 0.50%, to 77,684.37. Asian Paints, InterGlobe Aviation, NTPC, Power Grid, State Bank of India, and HCL Tech were among the major laggards.

Brent crude, the global oil benchmark, went up by 0.17% to USD 87.15 per barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 510.69 crore on Thursday.