Indian Stocks Plunge as Crude Prices Soar Amid US-Iran Tensions

The Indian benchmark equity indices, Sensex and Nifty, declined significantly on Wednesday due to elevated crude oil prices and US-Iran tensions.

The Nifty 50-share index lost over 2% in the last seven sessions, extending its losing streak to a seventh day. The BSE Sensex dropped 1,170.28 points in four days, marking its fourth consecutive decline.

The global oil benchmark Brent crude jumped 1.04% to $91.97 per barrel, driven by concerns over energy supply disruptions after the US-Iran ceasefire expired. This led to a lack of diplomatic resolution and higher crude prices, which dented investor sentiment.