India's Stock Market Slides Amid Rising Crude Prices and West Asia Tensions
The Indian stock market took a hit on Tuesday as both the Sensex and Nifty indices declined due to elevated crude oil prices and rising tensions in West Asia.
The Sensex fell 392.18 points or 0.5 percent to 77,335.98, while the broader Nifty declined to 24,194.30, down 93.35 points or 0.38 percent.
The decline was attributed to several key factors, including the rise in crude prices. Brent crude, the global oil benchmark, traded 0.63 percent higher at USD 91.46 per barrel after Iran indicated that it could adopt a more offensive posture and US President Donald Trump ruled out an extension of the ceasefire arrangement.
Rajesh Palviya, Head of Research at Axis Direct, stated, 'Elevated crude, with Brent near USD 91 on unresolved Iran tensions, kept sentiment guarded. Wall Street mirrored the caution.'