Commodities
Indian Stock Markets Plunge on Rising Oil Prices and US-Iran Tensions
Indian stock markets experienced a downturn on Tuesday due to rising crude oil prices and geopolitical tensions in West Asia. The Sensex, India's benchmark index, dropped by 382.25 points to 75,750.56, while the Nifty50 declined by 97.80 points to 23,681.80.
The surge in Brent crude prices to USD 97.52 per barrel was a major contributor to the market's decline. Foreign Institutional Investors (FIIs) were net buyers on Monday, purchasing equities worth Rs 280.13 crore. However, this did not prevent the market from falling.
Several companies saw significant declines, including Mahindra & Mahindra, Trent, Sun Pharma, Axis Bank, ICICI Bank, and Tata Consultancy Services. In contrast, Bharat Electronics, Eternal, and Adani Ports showed gains.