Sensex Slumps Over 200 Points Amid US-Iran Tensions and Oil Price Surge

The Indian equity market started the day on a cautious note due to rising crude oil prices and renewed uncertainty surrounding the US-Iran situation. The BSE Sensex rang in at around 77,500, taking a hit of more than 200 points, while the NSE Nifty50 slipped close to 50 points and tested 24,250 by 9:15 AM.

The global market has also turned cautious as investors assess the impact of higher oil prices and the latest developments in West Asia. US-Iran tensions have kept crude oil prices elevated after the ceasefire arrangement between the two countries expired on Monday, with negotiations remaining stalled.

October crude futures were trading around $91.13 per barrel, up 0.09 per cent on the Intercontinental Exchange, raising concerns over energy supply disruption and inflationary pressures.