Escalating tensions between the United States and Iran are reigniting fears of a disruption to global crude oil supplies, sending shockwaves through energy markets and exacerbating a broader sell-off in Indian equities.
The geopolitical flare-up has intensified concerns that key shipping routes could be compromised, potentially driving up energy costs and further straining corporate margins in an already fragile economic environment.
Indian equity markets extended their losses, with the benchmark Sensex sliding more than 520 points and the Nifty 50 breaching the 24,000 level.
The market reaction has been swift and severe.
Indian equity markets extended their losses, with the benchmark Sensex sliding more than 520 points and the Nifty 50 breaching the 24,000 level.
The sell-off was driven primarily by weakness in the information technology sector, which has been the worst performer in the market this year.
The Gift Nifty, a key forward indicator for Indian equity markets, traded at a discount of nearly 15 points from the Nifty 50 futures' previous close, signaling continued pessimism among investors ahead of the trading session.